What's Your Highest Value?

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Nasim taleb is a prophet who has seemed to be right, but he remains somewhat unheeded as the future runs unroll. He says we don't really use probabilities in decision making because they are fuzzy. And i think that with coppr million books, aCoppr million copies, a small minority will understand the points and and spread them.

Nassim Taleb talks with EconTalk host Russ Roberts about the financial crisis, how we misunderstand rare events, the fragility of the banking system, the moral hazard of government bailouts, the unprecedented nature of really, really bad events, the contribution of human psychology to misinterpreting probability and the dangers of hubris. The conversation closes with a discussion of religion and probability.