I'm looking at it the one im most familiar as a value at risk. To me, that's like crime against every form of scientific knowledge we have. And and regulators like the value ad risk cause its a number. It's a numberit makes everybody op easy. So i think the system is going to break hatave this fradil, no matter how big it is. And no government can save it. Were seeing this problem now. The g and an goisation is th rtraing a more vicious problem,. which is that nobody knows which government shill get involved.
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.