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" A good maxim allows you to have the last word without even starting a conversation. "
Nassim Nicholas Taleb
Conversation
Starting
Last
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" I no longer care about the financial system. I gave them my roadmap. OK? Thanks, bye. I've no idea what's going on. I'm disconnected. I'm totally disengaged. "
Nassim Nicholas Taleb
Financial
Thanks
System
" We know from chaos theory that even if you had a perfect model of the world, you'd need infinite precision in order to predict future events. With sociopolitical or economic phenomena, we don't have anything like that. "
Nassim Nicholas Taleb
Future
Know
Perfect
" The people I go after are the false experts, those who do not accept the limits of their knowledge. "
Nassim Nicholas Taleb
People
Accept
Limits
" We should ban banks from risk-taking because society is going to pay the price. "
Nassim Nicholas Taleb
Ban
Going
Pay
" I lift heavy weights and sprint, but I am so bad at it that I develop severe injuries. "
Nassim Nicholas Taleb
Heavy
I Am
Sprint
" I don't know anyone on Wall Street who goes to work every day thinking of anything but how to increase their bonus. "
Nassim Nicholas Taleb
Work
Day
Thinking
" Capitalism has forced everyone to overoptimize in order to compete. "
Nassim Nicholas Taleb
Compete
Capitalism
Everyone
" You are rich if and only if money you refuse tastes better than money you accept. "
Nassim Nicholas Taleb
Accept
You
Rich
" I'm in favour of religion as a tamer of arrogance. For a Greek Orthodox, the idea of God as creator outside the human is not God in God's terms. My God isn't the God of George Bush. "
Nassim Nicholas Taleb
God
Human
Outside
" The grandchildren should not bear the debts of the grandparents. "
Nassim Nicholas Taleb
Grandparents
Bear
Debts
" Individuals should think about the worst-case scenarios and plan for them. The world will be crazier than you think it will be. Put money away, and then you can live with much more freedom. "
Nassim Nicholas Taleb
World
Money
Live
" The track record of economists in predicting events is monstrously bad. It is beyond simplification; it is like medieval medicine. "
Nassim Nicholas Taleb
Beyond
Events
Medicine
" In social policy, when we provide a safety net, it should be designed to help people take more entrepreneurial risks, not to turn them into dependents. This doesn't mean that we should be callous to the underprivileged. "
Nassim Nicholas Taleb
Risks
Safety
Help
" Paul Krugman is a danger to society! "
Nassim Nicholas Taleb
Paul
Danger
Society
" In the United States, large corporations control some members of Congress. All this does is delay the corporation's funeral at our expense. "
Nassim Nicholas Taleb
Congress
Control
Delay
" What America does best is produce the ability to accept failure. "
Nassim Nicholas Taleb
Ability
Failure
Best
" What we do today has nothing to do with capitalism or socialism. It is a crony type of system that transfers money to the coffers of bureaucrats. "
Nassim Nicholas Taleb
Socialism
Today
Capitalism
" Failure saves lives. In the airline industry, every time a plane crashes the probability of the next crash is lowered by that. The Titanic saved lives because we're building bigger and bigger ships. So these people died, but we have effectively improved the safety of the system, and nothing failed in vain. "
Nassim Nicholas Taleb
Failure
Building
Time
" Most people are sceptical about the wrong things and gullible about the wrong things. "
Nassim Nicholas Taleb
Most
Gullible
Wrong
" It might be useful to be able to predict war. But tension does not necessarily lead to war, but often to peace and to denouement. "
Nassim Nicholas Taleb
Able
War
Tension
" I'm a capitalist but one who is smallist and localist, and who favours businesses where owners are still in charge. "
Nassim Nicholas Taleb
Who
Where
Still
" Fragility is the quality of things that are vulnerable to volatility. "
Nassim Nicholas Taleb
Volatility
Vulnerable
Things
" The key to wealth is that it doesn't matter. Once you've had it, you don't think anything of it; you can wear cheap watches. "
Nassim Nicholas Taleb
Wealth
Think
Watches
" Capitalism is about adventurers who get harmed by their mistakes, not people who harm others with their mistakes. "
Nassim Nicholas Taleb
Capitalism
People
Others
" People employed in financial institutions are rarely interesting and even more rarely likable. "
Nassim Nicholas Taleb
Interesting
Financial
People
" What we need to do is break the financial community's grip on society. "
Nassim Nicholas Taleb
Need
Community
Financial
" I'm a private intellectual, not a public one. "
Nassim Nicholas Taleb
Private
Public
Intellectual
" Never think that lack of variability is stability. Don't confuse lack of volatility with stability, ever. "
Nassim Nicholas Taleb
Think
Never
Stability
" I hated school because I liked to daydream and the system tried to stop me from that. "
Nassim Nicholas Taleb
Stop
Because
Tried
" Governments that try to shoot for a surplus hardly ever reach it. "
Nassim Nicholas Taleb
Surplus
Try
Hardly