i'm now saying that the flow of knowledge is a hundred % from technology to science, from business to technology. The myth is definitely that basic research won't be done by individuals, as there's no money in it. We have to have government sponsResearch in the sciences and medicine,. Without that, no one wll have an incentive to discover stuff on their own. In fool by randoms, you show that people underestimate the amount of luck that goes into things. Whe overestimate the mount of scales or his the sake te sae same poples. If sa tai call it complex luck. Conpex luck is til an error cost you very little, exploiting the option of nature
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.