"I'm glad we put a man on the moon. I got a kick out of it, but it's some, it's really not that practical for everyday life," he says. "So i continue develop to thor on my idea, because you can't really get your idea." The central idea is convexity - when you lose a penny to make a dollar and have been wrong doesn't cost you as much as being right.
Nassim Taleb, author of The Black Swan and Fooled by Randomness, talks with EconTalk host Russ Roberts about his latest thoughts on robustness, fragility, debt, insurance, uncertainty, exercise, moral hazard, knowledge, and the challenges of fame and fortune.