Quote on Science by Nassim Nicholas Taleb
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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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"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."
Previous
"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."
Next
"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."
"Being an economist is the least ethical profession, closer to charlatanism than any science."
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