Prediction, not narration, is the real test of our understanding of the world.
Nassim Nicholas TalebThe inability to predict outliers implies the inability to predict the course of history
Nassim Nicholas TalebForecasting by bureaucrats tends to be used for anxiety relief rather than for adequate policy making.
Nassim Nicholas TalebIn poor countries, officials receive explicit bribes; in D.C. they get the sophisticated, implicit, unspoken promise to work for large corporations
Nassim Nicholas TalebYou want to favor systems that benefit from error, disorder, variability and things like that. You want to favor these systems and unfortunately, when - there's something I call the Soviet Illusion. The more the government becomes intrusive, the more things have to follow a script, and it can't handle this kind of system.
Nassim Nicholas Taleb