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" Years ago, I noticed one thing about economics, and that is that economists didn't get anything right. "
Nassim Nicholas Taleb
Years
Right
Economics
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" All of technology, really, is about maximizing free options. "
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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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" We should ban banks from risk-taking because society is going to pay the price. "
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" What we need to do is break the financial community's grip on society. "
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" Most people are sceptical about the wrong things and gullible about the wrong things. "
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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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" We have this culture of financialization. People think they need to make money with their savings rather with their own business. So you end up with dentists who are more traders than dentists. A dentist should drill teeth and use whatever he does in the stock market for entertainment. "
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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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Listen
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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
" 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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Work
Day
Thinking
" I have never had personal debt and never will. "
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Will
Debt
Had
" 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. "
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Wealth
Think
Watches
" People have the problem of denial. This is one of the things I learned in Lebanon. Everybody who left Beirut when the war started, including my parents, said, 'Oh, its temporary.' It lasted 17 years! People tend to underestimate the gravity of these situations. That's how they work. "
Nassim Nicholas Taleb
People
Work
War
" 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. "
Nassim Nicholas Taleb
Christmas
Time
New
" Alan Greenspan is unskilled; you don't take the unskilled seriously. "
Nassim Nicholas Taleb
You
Seriously
Take
" Corporations take the humanity out of trade - they take the happiness out and replace it with something that is ugly. "
Nassim Nicholas Taleb
Ugly
Trade
Take
" Deficits are like putting dynamite in the hands of children. They can get out of control very quickly. "
Nassim Nicholas Taleb
Get
Out
Hands
" Bailing out every bank that fails makes the system riskier, not safer. "
Nassim Nicholas Taleb
System
Safer
Out
" What America does best is produce the ability to accept failure. "
Nassim Nicholas Taleb
Ability
Failure
Best
" 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
" 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. "
Nassim Nicholas Taleb
You
People
Fragile
" 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
" Inequalities of wealth lead to a dispersion in wealth for all. "
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Lead
Wealth
Inequalities
" The world we live in is vastly different from the world we think we live in. "
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Think
World
Live
" We humans lack imagination, to the point of not even knowing what tomorrow's important things will look like. "
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Imagination
Important
Look
" If you take risks and face your fate with dignity, there is nothing you can do that makes you small; if you don't take risks, there is nothing you can do that makes you grand, nothing. "
Nassim Nicholas Taleb
Fate
Small
You
" Success is about honour, feeling morally calibrated, absence of shame, not what some newspaper defines from an external metric. "
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Newspaper
Feeling
Success
" Nature builds things that are antifragile. In the case of evolution, nature uses disorder to grow stronger. Occasional starvation or going to the gym also makes you stronger, because you subject your body to stressors and gain from them. "
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Grow
Gym
Evolution
" 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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Doctor
Drink
Water
" A country's assets reside in the tinkerers, the hobbyists, and the risk-takers. "
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Assets
Reside
Country