In science, you need to understand the world; in business, you need others to misunderstand it.
~ Nassim Taleb, The Bed of Procrustes
Showing posts with label sciences. Show all posts
Showing posts with label sciences. Show all posts
Nov 20, 2011
Sep 5, 2008
Nassim Taleb on treating the social science of economics like a physical science
It was confidently believed that the scientific successes of the industrial revolution could be carried through into the social sciences, particularly with such movements as Marxism. Psuedoscience came with a collection of idealistic nerds who tried to create a tailor-made society, the epitome of which is the central planner. Economics was the most likely candidate for such use of science; you can disguise charlatanism under the weight of equations, and nobody can catch you since there is no such thing as a controlled experiment.
~ Nassim Taleb, Fooled By Randomness, 2nd Edition, p. 108
~ Nassim Taleb, Fooled By Randomness, 2nd Edition, p. 108
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