Answer
Nominalism, as argued by William of Ockham, posits that universals (e.g., "humanity") do not exist independently of individual objects. Instead, they are merely names or concepts that we use to group similar objects together. Ockham believed that assuming the existence of universals beyond individual objects was unnecessary and overly complex. His principle of parsimony, known as "Ockham's Razor," suggests that the simplest explanation is often the most likely.