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" You are rich if and only if money you refuse tastes better than money you accept. "

Nassim Nicholas Taleb

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" Bailing out every bank that fails makes the system riskier, not safer. "

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" 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. "

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" 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. "

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" I drive a hybrid, moving into an electric car. I only drink tap water, never consume food that's travelled. "

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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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" I hated school because I liked to daydream and the system tried to stop me from that. "

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" 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. "

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" Deficits are like putting dynamite in the hands of children. They can get out of control very quickly. "

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

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" I select a very small number of things to be sceptical about, such as markets, and on these I am hypersceptic. But I want to be fooled by randomness in art. I want the ceremonial of religion; we are made for it. "

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" If I ask you to write down the last 4 digits of your social security number, and then take you out to lunch and ask you how many dentists there are in Manhattan, there's going to be a high correlation between those two numbers. What happens is that the number psychologically makes you feel confident. "

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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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" Poverty is clearly one source of emotional suffering, but there are others, like loneliness. "

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" The American people will eventually get hurt by this accumulated deficit. That's the problem. We have too much deficit. We have to find a solution. "

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

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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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" 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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" The best philosophers were not academics, but had another job, so their philosophy was not corrupted by careerism. "

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" Democracies can't handle austerity measures very well. "

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" We are victims of the post-Enlightenment view that the world functions like a sophisticated machine, to be understood like a textbook engineering problem and run by wonks. In other words, like a home appliance, not like the human body. "

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" What America does best is produce the ability to accept failure. "

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" I lift heavy weights and sprint, but I am so bad at it that I develop severe injuries. "

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" What we need to do is break the financial community's grip on society. "

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

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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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" Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms. "

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" 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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