Black Swan Author Nassim Nicholas Taleb on Fragility, Centralization, and Capitalism

b48cBlackSwan Black Swan Author Nassim Nicholas Taleb on Fragility, Centralization, and Capitalism

Nassim Nicholas Taleb is a
former trader and hedge fund manager, a bestselling author, and a
groundbreaking theorist on risk and resilience. A finance professor
at New York University and a research scholar at Oxford, Taleb drew
wide attention after the 2007 publication of ;The Black
Swan: The Impact of the Highly Improbable, which warned that
our institutions and risk models are not designed to account for
rare and catastrophic events. Among other things, the book
presciently cautioned that oversized and unaccountable banks using
flawed investment models could trigger a financial crisis. He also
warned that the government-sanctioned housing finance agencies,
Fannie Mae and Freddie Mac, were sitting on a “barrel of dynamite.”
One year after ;The Black Swan ;was published,
Taleb’s predictions came to pass. Taleb doesn’t identify as a
libertarian, but he often sounds like one. Taleb’s new
book, ;Antifragile: Things that Gain with Disorder,
argues that in order to create robust institutions we must allow
them to build resilience through adversity. The essence of
capitalism, he argues, is encouraging failure, not rewarding
success.
Reason TV Editor in Chief Nick Gillespie sat down with Taleb in
January for a wide-ranging discussion about debt, technology, the
banking system, capitalism, and why he’ll never take writing advice
from “some academic at Cambridge who sold 2,200 copies.” View this article.

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Black Swan Author Nassim Nicholas Taleb on Fragility, Centralization, and Capitalism

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