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" The grandchildren should not bear the debts of the grandparents. "

Nassim Nicholas Taleb

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" 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. "

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" Paul Krugman is a danger to society! "

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" I'm a capitalist but one who is smallist and localist, and who favours businesses where owners are still in charge. "

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" I don't read the papers; I stopped reading the papers. I read the papers only during periods of crisis, and I think papers are too long on a regular day and too short days when we have a crisis. "

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" I don't know anyone on Wall Street who goes to work every day thinking of anything but how to increase their bonus. "

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" The next time you experience a blackout, take some solace by looking at the sky. You will not recognize it. "

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" Most so-called writers keep writing and writing with the hope, some day, to find something to say. "

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" When you ask people, 'What's the opposite of fragile?,' they tend to say robust, resilient, adaptable, solid, strong. That's not it. The opposite of fragile is something that gains from disorder. "

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" A good maxim allows you to have the last word without even starting a conversation. "

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" Globalization has created this interlocking fragility. At no time in the history of the universe has the cancellation of a Christmas order in New York meant layoffs in China. "

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" The Internet allows the small guy a global marketplace. But technology is harmful in the sense that we get too much information from it. Because of the web we get 10 times the amount of noise we ever got, which makes harmful fallacies far more likely. "

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" 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. "

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" 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. "

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" If you are an Arabic-speaking, Greek-Orthodox going to a French school it makes you deeply sceptical if you have to listen to three different accounts of the Crusades - one from the Muslim side, one from the Greek side and one from the Catholic side. "

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" Steve Jobs, Bill Gates and Mark Zuckerberg didn't finish college. Too much emphasis is placed on formal education - I told my children not to worry about their grades but to enjoy learning. "

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" 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. "

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" The mortgage crisis is a clear instance of consumers who needed protection. There was predatory lending to people who didn't know what they were doing. "

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" Success is about honour, feeling morally calibrated, absence of shame, not what some newspaper defines from an external metric. "

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" A country's assets reside in the tinkerers, the hobbyists, and the risk-takers. "

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" Capitalism is about adventurers who get harmed by their mistakes, not people who harm others with their mistakes. "

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" Economics make homeopath and alternative healers look empirical and scientific. "

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" You will get the most attention from those who hate you. No friend, no admirer and no partner will flatter you with as much curiosity. "

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" Capitalism has forced everyone to overoptimize in order to compete. "

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" I don't go to the doctor except when I'm very ill, and when I go to India, I drink a drop of local water. "

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" You have family-owned businesses that have been around for 500 years. You cannot name a corporation that survives intact for even a few decades. "

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" Fragility is the quality of things that are vulnerable to volatility. "

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" Debt is a mistake between lender and borrower, and both should suffer. "

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" There are two types of people: those who try to win and those who try to win arguments. They are never the same. "

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" I have never had personal debt and never will. "

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