Pandemics are events that have killed more than a thousand people. We classify as pandemic that have fat tails, events that can mutate. The entire principle of the precaution is to replicate what an old trader told me: 'Take all the risks you want, but make sure in morrow we're not ill'
Nassim Nicholas Taleb talks about the pandemic with EconTalk host Russ Roberts. Topics discussed include how to handle the rest of this pandemic and the next one, the power of the mask, geronticide, and soul in the game.