How to Avoid a Fire in a Financial Crisis?

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Bailout policy of the last thirt years has been about 'putting out every fire as quickly as you can,' he says. When brush starts to build up, it's "the fire of all fires" and is incredibly destructive. The book explains that something that gains from volatility tends to gain from stress,. Something that gains fromvolatility gains from time - so this is quite central in a book.

Nassim Taleb, author of Fooled By Randomness and The Black Swan, talks with EconTalk host Russ Roberts about antifragility, the concept behind Taleb's next book, a work in progress. Taleb talks about how we can cope with our ignorance and uncertainty in a complex world. Topics covered include health, finance, political systems, the Fed, your career, Seneca, shame, heroism, and a few more.