Parsimony

In his article "Parsimony (In as few words as possible)", issue 81 of Philosophy Now, Toni Vogel Carey, wonders if nature loves simplicity. I'm sure it does, like any enterprise does, especially at the beginning when it's essential.

In business, particularly at the beginning, it is essential to be parsimonious. It helps keep one in business. There is an axiom we've all heard: If you take care of the pennies the dollars (pounds) will look after themselves. In other words, parsimony and taking care of the nominal stuff is an initial, important step in business.

There is a saying, Don't sweat the details. But that would be like not being parsimonious or taking care of the nominal stuff. Before one can have the luxury of not sweating the details one has to first make sure the details are looked after and are in place. After a business has taken off and started to succeed then one can stop sweating the details and pennies, but never take your eye of the ball, as the saying goes.

However, there is a balance involved. For instance, if one remains too parsimonious and frugal in business, as Adam Smith cautioned against, one will stifle development and growth. So one has to learn how to keep parsimony in the background while learning to spend and take risks so that the business grows. Nevertheless, parsimony should remain a core issue.

If one examine any entity, whether in nature or in business, there is always a simple, parsimonious beginning. But there is a paradox. The option is not to remain simple and parsimonious. In order to survive and continue we must become complex and create intricate systems.

The opposite to parsimony is excess. Ironically, parsimony can has its own excess. For example, a simplistic, parsimonious mindset can lead to the excesses of fundamentalism and extremism, as we've seen with religions.