Friday, November 13, 2009

Nassim Nicholas Taleb, Black Swan, On Debt

My alma mater, Polytechnic Institute, now Polytechnic Instiute of New York University, hired Nassim Nicholas Taleb, of Black Swan fame. He said, "a complex financial system cannot tolerate debt" because debt "doesn't allow someone to make mistakes."

Of course, here I advocated the share economy, an economy without debt, and without nonlinearity as everything is a percentage of everything else.

Source, Polytechnic Cable, Spring 2009, page 7 to 8, Volume 36 No Two.

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