Importance of Understanding
5 min readDec 12, 2020
Everyone is born into some set of opportunities. Refer to such a set of opportunities as the ‘opportunity set’. A person’s opportunity set first is defined by circumstances of parents, then by his or her environment. Culture, tastes, propensities, idiosyncrasies, biases, all are influenced to one degree or another by parents and the environment — siblings, neighbors, customs, weather etc.