Bailouts the Casino Industry Should Essay

Total Length: 1838 words ( 6 double-spaced pages)

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When such biases enter into the decision-making process, they eliminate some potential courses of action.

Related to bias is the illusion of validity. The biased parties envision an outcome that they would like to see and work backwards to justify their chosen course of action. That course of action may not lead to the outcome at all, but biases leave to the view that it does. Therefore, bias guides us to actions that do not result in the outcomes we have imagined. Alongside bias, the illusion of validity reduces objectivity. The parties making the decision cannot be truly objective if they have biases; nor can they be truly objective if they already believe they will have success. What this does is eliminate the possibility of the worst-case scenario. By mentally eliminating some of the possible outcomes from consideration, the analysis of the situation becomes distorted.

As a result of these defects, we sometimes develop well-meaning strategies that ultimately fail. Certainly the parties involved in automobile industry bailout discussions have substantial bias. The government definitely has the illusion of validity.
There is no evidence that supports the contention that their automotive industry bailout will ensure the industry's future, yet they believe that it will and that provides sufficient justification. The members of Congress identify with the solution, having used it before on a couple of occasions.

This leads them to this specific solution in order to attain the outcome that they have already determined as desirable as a result of their bias. From there, it merely requires groupthink to ram the legislation through government and have it passed into law. The automotive industry and its suppliers lend their weight, such that dissenters feel tremendous pressure to go along with the group. The end results of these defects in decision-making are poor decisions.

Works Cited

NPR Interview with Nancy Pelosi retrieved December 13, 2008 at http://www.npr.org/templates/story/story.php?storyId=96670508.....

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