Here’s an interesting video I came across today which features Mandelbrot – a mathematician famous for his work on fractals, and Taleb – who’s famous for his book “The Black Swan”.
What are your thoughts on the video and on their understanding of economic theory and the events happening currently in the world?
Taleb is generally very good on methodological matters. He’s written articles against methodological monism and the “physics” envy pervasive in economics.
Old post. I know, but Taleb has been trawling around Davos for the past week or so. Rich, influential people seem to have taken a liking to him.
I wish someone would introduce Taleb to Mises and Hayek. His book “The Black Swan” discussed epistemological problems with mainstream economics and I found his arguments on economic data sets to be strangely similar to Hayek’s Pretense of Knowledge speech. He has a very fertile mind and man who has spent a lot time alone with his thoughts.
He does discuss Hayek in one of his works actually, but briefly, and favourably. He has a theory he calls “academic libertarianism”, whereby he treats academia like libertarians treat government. Curiously he thinks we don’t already have such a theory. He’s an interesting figure and would be worth converting.
I’'m not sure (should google…) but I think he’s a friend of Bill Bonner’s. At any rate I’m sure I’ve seen some of his articles published in the Daily Reckoning.
This is another good video.