Saturday, April 26, 2014

Nasim Taleb about Economic Prognosticators

  "Every opinion-maker needs to have 'skin in the game' in the event of harm caused by reliance on his information or opinion....Talk...when it comes to predictions, can be just talk, devoid of embodiment and stripped of true evidence. As in anything with words, it is not the victory of the most correct, but that of the most charming--or the one who can produce the most academic-sounding material....There is no penalty for opinion makers who harm society. And this is very bad practice." Nasim Taleb in his latest book, Antifragile

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics
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