Nassim Taleb talks about the financial crisis, how we misunderstand rare events, the fragility of the banking system, the moral hazard of government bailouts, the unprecedented nature of really, really bad events, the contribution of human psychology to misinterpreting probability and the dangers of hubris. The conversation closes with a discussion of religion and probability. From http://www.econtalk.org/archives/2009/03/taleb_on_the_fi.html
EconTalk: Taleb on the Financial Crisis, 23 March 2009
Tagged with economics:topic=current events nassim taleb
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Nassim Nicholas Taleb and Benoit Mandelbrot on the financial crisis
As the financial sector shifts, so does the reach of the jolt to economic structures around the world. Economist Nassim Nicholas Taleb and his mentor, mathematician Benoit Mandelbrot, speak with Paul Solman about chain reactions and predicting the financial crisis.
http://www.pbs.org/newshour/bb/business/july-dec08/psolman_10-21.html
Tagged with nassim nicholas taleb mathematics economy economics chaos complexity
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The Future Has Always Been Crazier Than We Thought
Nassim Nicholas Taleb talks about the challenge or failure of predications and Black Swans. Recorded before the current global economic turmoil
Tagged with taleb longnow black swan predictions economics future
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Nassim Taleb on Living with Black Swans
Nassim Taleb is a literary essayist, hedge fund manager, derivatives trader and professor of risk engineering at The Polytechnic Institute of New York University. But he is best known these days as the author of The Black Swan: The Impact of the Highly Improbable. During a recent visit to Wharton as part of The Goldstone Forum, he spoke with Wharton finance professor Richard Herring — who taught Taleb when he was a Wharton MBA student — about events in the Middle East, the oil supply, investing in options, the U.S. economy, the dollar, health care and of course, black swans.