June 2010
17 posts
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… the idea is not to correct mistakes and eliminate randomness from social and economic life through monetary policy, subsidies, and so on. The idea is simply to let human mistakes and miscalculations remain confined, and to prevent their spreading through the system, as Mother Nature does. Reducing volatility and ordinary randomness increases exposure to Black Swans—it creates an artificial...
Globalization might give the appearance of efficiency, but the operating leverage and the degrees of interaction between parts will cause small cracks in one spot to percolate through the entire system.
On Robustness and Fragility
Have You Ever Tried to Sell a Diamond?
Love is shown in quality, not in wanton misuse.
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89.4 per cent of the companies with over 100 years of history are businesses employing fewer than 300 people
N.N.Taleb Open Source with Christopher Lydon