Critical Thinking
Autor: Rannis • June 10, 2013 • Research Paper • 978 Words (4 Pages) • 1,336 Views
Critical Thinking and Society Exercise
PHL/458
University of Phoenix
Describe a situation in which critical and creative thought could have been used for a better outcome. Describe why it is important to think critically and creatively in similar situations.
A situation, in which critical and creative thought could have been used for a better outcome, is when investors were making decisions about the purchase of real estate. In 2006 the real estate market was giving signs of weakening where prior to that year it was booming, but investors were not thinking critically and creatively instead, they were greedy and they let greed make decisions for them. To make matters worse lenders where very aggressive in their lending protocols while no one in the government was watching. Investors continue to buy in frenzy at high prices, even paying over the listed prices for properties. Then came the market went bust and investors were stuck with nearly worthless pieces of properties. Had the investors even consider one or two worse case scenarios, their net worth could have been preserved, instead we saw how thousands of properties started going into foreclosure. This was a hard lesson to learn but today the lending rules have changed thanks to a revamp of the lending practices. By thinking critically and creatively the government has tighten the screws on a much unsupervised system.
Define free will, truth, knowledge, and opinion. Explain how we use them to form thoughts.
Free will: The moderate definition of free will is when people have choices when it comes to decisions like whether to attend a party or finish doing assignments. Another example is getting up to go to work, although it may look compulsive, it really is a choice you make every day.
Truth: “Truth is what so is about something, the reality of the matter, as distinguished from what people wish were so, believe to be so, or assert to be so” (Ruggiero, 2010 p.27). The truth never changes. You make a choice based on a truth: If you don’t work you will be become a free rider in society.
Knowledge: Knowledge can change as new information is available. Ideas do not constitute knowledge unless they correspond to reality (Ruggiero, 2010, p.29).Now this knowledge of wanting to go to work corresponds to the reality of having a roof over your head or food on your table.
Opinion: “Opinions are intensely personal, so it is understandable that
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