Ae G M O, Calld, Golden Rice

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Soto: The discourse on g m o is of an inferior quality than the one we had in finance. Don't try to solve hunger by creating technology that has still unknown, and i repeat, still unknown, unattended consequences. It's not better because i more pychological. The more complicated your answer, the more acertinty you bring imto so you may be do something cheaper. Soto: My family is well stared. I don't play russian rola. All right, s going to starve more if you die. So it's onwuck given vilamen. You see, no, this is bat.

Nassim Nicholas Taleb, author of Antifragile, Black Swan, and Fooled by Randomness, talks with EconTalk host Russ Roberts about a recent co-authored paper on the risks of genetically modified organisms (GMOs) and the use of the Precautionary Principle. Taleb contrasts harm with ruin and explains how the differences imply different rules of behavior when dealing with the risk of each. Taleb argues that when considering the riskiness of GMOs, the right understanding of statistics is more valuable than expertise in biology or genetics. The central issue that pervades the conversation is how to cope with a small non-negligible risk of catastrophe.