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Tag Archives: mediocristan

Nassim Taleb on the Financial Crisis

From EconTalk.org (Includes full transcript). Direct link to mp3 interview Nassim Taleb talks about the financial crisis, how we misunderstand rare events, the fragility of the banking system, the moral hazard of government bailouts, the unprecedented nature of really, really bad events, the contribution of human psychology to misinterpreting probability and the dangers of hubris. […]

Nassim Nicholas Taleb – The Future Ain’t What It Used To Be

If you want to be a dentist, it’s rational to assume that if you go to school, get your degree, and set up a dental practice, you will be able to attain a comfortable standard of living. You may be able to project your probable income range with some degree of accuracy. But if you […]