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Nassim Nicholas Taleb on Black Swans, Fragility, and Mistakes

EconTalk

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Debt Is the Opposite of Redundancy

The roll of leverage and debt is seductive, but it leaves you vulnerable to collapse. We've stopped the natural feedback loops that would encourage people to learn from hedangers of debt. And as a result, we keep making the same mistakes. In other words, evolution does not preach. You know what? It does? It destroys.

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