Economists Take a Beat in the Books

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Economics is largely lutic. The processes r the generate the the numbers. And our samples are are mechanistic in some dimension, mechanistic and known. But we want to be like physicists, so we have a planet and lets predict its economy. Or we have an economy and predict their growth rate over next five years. They're not the same exercises, those are not the same cause they're caused. So i think you're getting at that some somewhat when you talk about this ludic, non ludic, alutic, cosom game consit. I got a fon callat saying that there are a lot of articles now going to attack me, yes and sort of

Nassim Taleb talks about the challenges of coping with uncertainty, predicting events, and understanding history. This wide-ranging conversation looks at investment, health, history and other areas where data play a key role. Taleb, the author of Fooled By Randomness and The Black Swan, imagines two countries, Mediocristan and Extremistan where the ability to understand the past and predict the future is radically different. Taleb's contention is that we often bring our intuition from Mediocristan for the events of Extremistan, leading us to error. The result is a tendency to be blind-sided by the unexpected.