The Improbable Prose of Nassim Nicholas Taleb–by Robert P. Murphy

Taleb openly despises those in “suits”—very often mainstream economists or students of financewho make predictions without bothering to study the record of their previous forecasts. Taleb declares, “Anyone who causes harm by forecasting should be treated as either a fool or a liar. Some forecasters cause more damage to society than criminals. Please, don’t drive a school bus blindfolded.”

Of perhaps most interest to the Austrian reader, Taleb champions Friedrich Hayek and mocks Paul Samuelson (who died in December). In a section titled, “They Still Ignore Hayek,” Taleb lauds the Austrian focus on the pretense of knowledge. Yet of Samuelson, the epitome of the neoclassical mainstream, Taleb issues harsh judgment indeed:”


What Nassim Taleb Can Teach Us–By Jeff Deist