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Astral Codex Ten Podcast

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Should You Trust the Experts on Wall Street?

When people talk about trusting the experts in quotes, I think they mean trusting people with technical expertise over people without. But what if you have a question about investment banking on Wall Street and how it should be regulated? Should you put the question to a bunch of investment bankers? After all, they do have the most technical expertise on this subject, right? Now we've run into an issue. They do have technical expertise, but it's bundled together and intertwined with a bunch of incentives that could lead to biased judgment. So we can't take what they're saying is some pure objective truth. Of course, their technical expertise is still valuable, so we shouldn't necessarily throw out everything they say

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