Tag Archives: Zero Hedge

Nassim Taleb Exposes The World’s “Intellectual-Yet-Idiot” Class | Zero Hedge

Full article: Nassim Taleb Exposes The World’s “Intellectual-Yet-Idiot” Class

Indeed one can see that these academico-bureaucrats wanting to run our lives aren’t even rigorous, whether in medical statistics or policymaking. They cant tell science from scientism?—?in fact in their eyes scientism looks more scientific than real science. (For instance it is trivial to show the following: much of what the Cass-Sunstein-Richard Thaler types?—?those who want to “nudge” us into some behavior?—?much of what they call “rational” or “irrational” comes from their misunderstanding of probability theory and cosmetic use of first-order models.) They are prone to mistake the ensemble for the linear aggregation of its components as we saw in the chapter extending the minority rule.

Taleb On “Skin In The Game” And His Disdain For Public Intellectuals | Zero Hedge

I have the ReasonTV interview earlier on the blog. But in case you were wondering what Zero Hedge thought of it…

Nassim Taleb sits down for a quite extensive interview based around his new book Anti-Fragile. Whether the Black Swan best-seller is philosopher or trader is up to you but the discussion is worth the time as Taleb wonders rigorously from the basic tenets of capitalism – “being more about disincentives that incentives” as failure he believes is critical to its success and is clearly not allowed in our current environment – to his intellectual influences and total disdain for the likes of Krugman, Stiglitz, and Friedman – who all espouse grandiose and verbose work with no accountability whatsoever. His fears of large centralized states such as the US is becoming and Europe is become being prone to fail along with his libertarianism make for good viewing. However, his fundamental premise that TBTF banks should be nationalized and the critical importance of ‘skin in the game’ for a functioning financial system are all so crucial for the current ‘do no harm’ regime in which we live. Grab a beer or glass of wine, it is Taleb and watch…

via Taleb On “Skin In The Game” And His Disdain For Public Intellectuals | Zero Hedge.