He names names: Alan Greenspan, Paul Krugman, Joseph Stiglitz, Thomas Friedman, Robert Rubin and Alan Blinder, among others, receive very harsh treatment, some for blindness, others for ethical lapses. They all fit his definition of the “fragilista”: “Someone who causes fragility because he thinks he understands what’s going on.”
“I do not have a political affiliation,” Taleb asserts after blasting both parties, complaining that it’s hard to fit his ideas “within the current U.S. political discourse.” He writes as a philosopher and a prophet, though he’s mainly a prophet in the sense that Cassandra was.
via Taleb Pegs Greenspan, Stiglitz as ‘Fragilistas’ – Bloomberg.
I have worked for the United Nations in Iraq and very large corporations worldwide now for 40 years and can attest to the validity of the works of Taleb. I have observed multi-billion dollar organizations strangle themselves with rigidity and the insanity of doing the same thing and expecting a different result. No one seems to be willing to adopt a refective philosophy. My Brother in Law is now a general secretary in the UN – a place that would make Kafka commit suicide. I am in a multi-billion dollar corporation that has lost hundreds of millions recently on pure stupidity. So we are reorganizing and laying off hundreds of good enginers while adding dozens of new senior executives while depleting the work force that actaully earns money. Since we mirror our competion quite consistently I see little hope for a renaissance in the future in US-based EPCM’s. We are trying to avoid risk and losing contracts due to higher pricing and lessened capability as the market knows all about our layoffs. Instead of learing for the past mistakes and changing our approach we are beating the staff up and harming our profile in the market. Will we Americans ever get off this totalitarian attitude we lord over the employees and the arrogance toward our clientele or will Dilbert’s lessons ever be heeded?