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Nassim Nicholas Taleb on the Pandemic

EconTalk

The Risk of Variation Is Extremely Different From Risk of Ruin

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"Amlessness is the idea of wandering on foot without aa, without a purpose," he says. "If if you try to make it productive, you're going to fail." The author has been exceptionally cautious over the last few months due to his father's advice that barefooting was better than wearing a helmet. But risk of variation is extremely different from risk of ruin, particularly at ta systemic level, like risk of car accidents. 'The trade offs become relevant when youare out of the game'

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