Taleb Pegs Greenspan, Stiglitz as ‘Fragilistas’
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According to Nassim Nicholas Taleb, predictions based on statistics would be reliable only if they drew their data from the future as well as the past. Here’s how he illustrates his point:
“A turkey is fed for a thousand days by a butcher; every day confirms to its staff of analysts that butchers love turkeys ‘with increased statistical confidence.’