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I disagree with the followers of Marx and those of Adam Smith: the reason free markets work is because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill.
Nassim Nicholas Taleb
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Nassim Nicholas Taleb
Age: 64
Born: 1960
Born: September 11
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Economist
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Philosopher
Statistician
University Teacher
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Nassim Nicholas Najib Taleb
Nassim Taleb
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More quotes by Nassim Nicholas Taleb
The difference between slaves in Roman and Ottoman days and today's employees is that slaves did not need to flatter their boss.
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Injecting some confusion stabilizes the system.
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A prophet is not someone with special visions, just someone blind to most of what others see
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Don't read newspapers for the news (just for the gossip and, of course, profiles of authors). The best filter to know if the news matters is if you hear it in cafes, restaurants... or (again) parties.
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Heroes are heroes because they are heroic in behavior, not because they won or lost.
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Someone bemoaned that there were so few women in economics. But there are also very few men in economics.
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Missing a train is only painful if you run after it! Likewise, not matching the idea of success others expect from you is only painful if that’s what you are seeking.
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Success is about honour, feeling morally calibrated, absence of shame, not what some newspaper defines from an external metric.
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Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically - while bankers strike it rich.
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It might be useful to be able to predict war. But tension does not necessarily lead to war, but often to peace and to denouement.
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Simplicity is not so simple to attain.
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Daily news and sugar confuse our system in the same manner.
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It's harder to say 'no' when you really mean it.
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If my detractors knew me better they would hate me even more.
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When I trade, I don't have an agency problem I have my neck on the line. When a bank or banker trades, it's not his neck on the line.
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Economics make homeopath and alternative healers look empirical and scientific.
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If you're going to fail, you'd rather fail early than fail late in general.
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Greatness starts with the replacement of hatred with polite disdain.
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It was obvious that their profits were simply cash borrowed from destiny with some random payback time.
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The traits I respect are erudition and the courage to stand up when half-men are afraid for their reputation. Any idiot can be intelligent.
Nassim Nicholas Taleb
