Friday, March 28, 2008

Bloomberg article on Taleb

Taleb Outsells Greenspan as Black Swan Gives Worst Turbulence . Concluding remarks:
"Taleb likens modern-day financial markets to medicine in the 1800s, when going to a hospital in London or Paris multiplied your risk of death by four times, he says. Similarly, quants increase risk by deploying flawed financial tools designed to reduce it, he argues.

For Taleb, the ills besetting financial markets are a vindication of his ideas. Like medicine, though, he isn't offering easy cures. "
Some other economics links:
"Why Did Financial Globalization not Deliver the Goods?", a discussion in 'Naked Capitalism' of Rodrik-Subranian paper of the same title.
http://www.salon.com/tech/htww/2008/03/27/the_end_of_laissez_faire/index.html, Andrew Leonard links to Mark Thoma's recent post on Keynes. FDR and J.K. Galbraith too seem to back in favour.
The Regulation of the Mixed Economy in Action , Brad DeLong reacts to Martin Wolf and David Wessel on the 'big shift'.

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