The Bed of Procrustes

[Charles Pegge]

Nassim Nicholas Taleb and the Bed of Procrustes

BBC Radio:
http://www.blackswanreport.com/blog/2010/12/bbc-news-today-today-tuesday-14th-december/

TIME 10 Questions: 10 Questions for Nassim Taleb
http://www.youtube.com/watch?v=E3bu_7Bfatg

Nassim Taleb: Look to Mother Nature for Financial Solutions
http://www.youtube.com/watch?v=NSLaWVDyKRU&NR=1&feature=fvwp

Nassim Nicholas Taleb Angry
http://www.youtube.com/watch?v=ABXPICWjFIo

Text Links:

http://www.fooledbyrandomness.com/aphorisms.pdf

http://en.wikipedia.org/wiki/Nassim_Nicholas_Taleb

Charles

[danbaron]

(after reading the text links)

I don't know exactly what to say.

To me, primitive minds have a very limited number of different categorical boxes, into one which they place every object and concept that they encounter. None of these boxes is unlabeled, or, is labeled, "Insufficient Data". This type of person is always certain that he has enough data to detect a pattern, that it is the correct pattern, and that one of his few boxes is precisely calibrated to contain that pattern.

Primitive minds never attempt to objectively compare themselves to other minds. They have no interest in introspection. They cannot tolerate the reality of their intellectual limitations. They never doubt their capabilities. They feel no need to learn from others, because, they already know everything. They view themselves relative to no one else, and so, their omniscience is unassailable.

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Maybe somewhat relatedly - to me, calling the current overall state of Economics/Finance, a science, is comparable to calling the Law, a science.

:p