EconTalk Archives, 2007
EconTalk Archives, 2007
EconTalk: Russ Roberts, Library of Economics and Liberty
Taleb on Black Swans
1 hour 23 minutes Posted Apr 30, 2007 at 12:30 pm.
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Show notes
Nassim Taleb talks about the challenges of coping with uncertainty, predicting events, and understanding history. This wide-ranging conversation looks at investment, health, history and other areas where data play a key role. Taleb, the author of Fooled By Randomness and The Black Swan, imagines two countries, Mediocristan and Extremistan where the ability to understand the past and predict the future is radically different. Taleb's contention is that we often bring our intuition from Mediocristan for the events of Extremistan, leading us to error. The result is a tendency to be blind-sided by the unexpected.