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March 11, 2016
Nassim Nicholas Taleb: What we are seeing worldwide, from India to the UK to the US, is the rebellion against the inner circle of no-skin-in-the-game policymaking "clerks" and journalists-insiders
that class of paternalistic semi-intellectual experts with some Ivy league, Oxford-Cambridge, or similar label-driven education who are telling the rest of us 1) what to do, 2) what to eat, 3) how to speak, 4) how to think... and 5) who to vote for.With psychology papers replicating less than 40%, dietary advice reversing after 30y of fatphobia, macroeconomic analysis working worse than astrology, microeconomic papers wrong 40% of the time, the appointment of Bernanke who was less than clueless of the risks, and pharmaceutical trials replicating only 1/5th of the time, people are perfectly entitled to rely on their own ancestral instinct and listen to their grandmothers with a better track record than these policymaking goons. Indeed one can see that these academico-bureaucrats wanting to run our lives aren't even rigorous, whether in medical statistics or policymaking. I have shown that most of what Cass-Sunstein-Richard Thaler types call "rational" or "irrational" comes from misunderstanding of probability theory. ( - Nassim Nicholas Taleb / Facebook
Posted by gerardvanderleun at March 11, 2016 2:10 PM. This is an entry on the sideblog of American Digest: Check it out.