Nassim Nicholas Taleb Quotes About Economists

Quotes about: Economists

• The track record of economists in predicting events is monstrously bad. It is beyond simplification; it is like medieval medicine.

  Nassim Nicholas Taleb

  Medicine, Track, Events

• The curious mind embraces science; the gifted and sensitive, the arts; the practical, business; the leftover becomes an economist

  Nassim Nicholas Taleb

  Art, Mind, Sensitive

  Nassim Nicholas Taleb (2010). “The Bed of Procrustes: Philosophical and Practical Aphorisms”, p.90, Penguin UK

• Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending

  Nassim Nicholas Taleb

  Thinking, Addiction, Greed

  Nassim Nicholas Taleb (2010). “The Bed of Procrustes: Philosophical and Practical Aphorisms”, p.88, Penguin UK

• If you hear a "prominent" economist using the word 'equilibrium,' or 'normal distribution,' do not argue with him; just ignore him, or try to put a rat down his shirt.

  Nassim Nicholas Taleb

  Trying, Rats, Normal

  Nassim Nicholas Taleb (2010). “The Black Swan: Second Edition: The Impact of the Highly Improbable Fragility"”, p.210, Random House

• Being an economist is the least ethical profession, closer to charlatanism than any science.

  Nassim Nicholas Taleb

  Ethical, Economist, Profession

• I've debated many economists who claim to specialize in risk and probability: when one takes them slightly outside their narrow focus, but within the discipline of probability, they fall apart, with the disconsolate face of a gym rat in front of a gangster hit man.

  Nassim Nicholas Taleb

  Fall, Men, Gym Rats

  Nassim Nicholas Taleb (2012). “Antifragile: Things That Gain from Disorder”, p.245, Random House

• A good rule of thumb is as follows: If the numbers come from somebody wearing a tie (Wall Street economist or analyst, industry public relations department, captive think tank academic and so on), you ought to be very skeptical. By design messages from these people are intended to move markets, move merchandise and/or move public policy and are not a comment on the state of the physical universe.

  Nassim Nicholas Taleb

  Wall, Moving, Thinking

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