Failure saves lives. In the airline industry, every time a plane crashes the probability of the next crash is lowered by that. The Titanic saved lives because we're building bigger and bigger ships. So these people died, but we have effectively improved the safety of the system, and nothing failed in vain.
Nassim Nicholas TalebIs the economy something organic or is it something engineered? I think it's closer to the organic. You harm it by artificially suppressing volatility in it.
Nassim Nicholas TalebI don't know anyone on Wall Street who goes to work every day thinking of anything but how to increase their bonus.
Nassim Nicholas Taleb