Nassim Nicholas Taleb talks about the challenge or failure of predications and Black Swans. Recorded before the current global economic turmoil
Tagged with “economics” (3)
April 18 2008 - Michael Shermer discusses his book "The Mind of the Market", and the new field of neuroeconomics. He explores the implications of Darwinian evolution for how people fare in market capitalism, including how we are naturally irrational when it comes to economics, due to our evolutionary heritage. He argues why market capitalism and liberal democracy are best suited to people’s needs, and discusses socialized medicine and other aspects of social welfare programs, contrasting the economy of the United States with those of northern Europe. He examines how free trade may lead to world peace.
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.