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In this selection Russell first distinguishes between knowledge by acquaintance (e.g., knowledge by appearances, such as "I seem to see a red book," "I am in pain," or "I think, therefore I am") and knowledge by description (knowledge of truths, such as your knowing that you are really seeing a red book or that your pain is caused by having twisted your ankle). Knowledge by acquaintance is generally thought to be infallible because believing it makes the proposition true. But the same is not the case for descriptive knowledge claims because your beliefs could be false. Thus, descriptive knowledge is dualistic-it has the properties of truth and falsity as opposites-whereas knowledge by acquaintance is monistic and does not admit such opposites. Russell goes on to specify the conditions for an adequate theory of truth and shows how the correspondence theory meets these conditions, whereas the coherence theory does not.
-Russell argues that the correspondence theory meets the three requirements of any theory of truth.
Tangible Products
Physical items that can be touched, seen, and measured, such as electronics, clothing, and furniture.
Intangibles
Non-physical assets such as patents, copyrights, brand recognition, and goodwill that have value but are not physical objects.
Merchandise Trade Balance
The difference between a country's imports and exports of goods.
Tangible Products
Physical items that can be touched, seen, and usually measured, such as books, furniture, and food items.
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