Nobody reads the disclosures that roll down your computer screen. You click 'I agree' but you don't know what you're agreeing to.
Nassim Nicholas TalebRead
Economics make homeopath and alternative healers look empirical and scientific.
Interpretation
The quote suggests that economics, unlike homeopathy and alternative healing, lacks a scientific basis.
In this quote, Nassim Nicholas Taleb critiques the field of economics by implying that it often lacks the empirical rigor found in traditional science and medicine, thereby equating it, somewhat ironically, with the non-empirical practices of homeopathy and alternative healing. The comparison serves to question the validity and scientific underpinnings of economic theories, suggesting that they are more speculative than factual.
In practice
In a discussion on economics and its comparison to more empirical sciences.
Nobody reads the disclosures that roll down your computer screen. You click 'I agree' but you don't know what you're agreeing to.
Fragility is the quality of things that are vulnerable to volatility.
Those who were unlucky in life in spite of their skills would eventually rise. The lucky fool might have benefited from some luck in life; over the longer run he would slowly converge to the state of a less-lucky idiot. Each one would revert to his long-term properties.
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.
A good maxim allows you to have the last word without even starting a conversation.
A Stoic is someone who transforms fear into prudence, pain into transformation, mistakes into initiation, and desire into undertaking.
Lack of loyalty is one of the major causes of failure in every walk of life
Imagine all the people Sharing all the world.
One should always play fairly when one has the winning cards.
One of the great tragedies of mankind is that morality has been hijacked by religion. So now people assume that religion and morality have a necessary connection. But the basis of morality is really very simple and doesn't require religion at all.
Wealth is an inborn attitude of mind, like poverty. The pauper who has made his pile may flaunt his spoils, but cannot wear them plausibly.
There is no true gracefulness which is not epitomized goodness.
Subscribe for the occasional hand-picked quote. No noise.