"economics... you can disguise charlatanism under the weight of equations and nobody can catch you since there is no such thing as a controlled experiment. Now the spirit of such methods, called scientism by its detractors, continued into the discipline of finance as a few technicians thought their mathematical knowledge could lead them to understand markets. The practice of financial engineering came along with massive doses of pseudoscience."
React to this quote
More by Nassim Nicholas Taleb
See allResonant Thoughts
"A great number of our common ideas and ways of looking at the world were really shaped for us by the Greeks of antiquity, and... incorporated into the scientific knowledge of today. Such ideas as thos…"
"I do not understand the capricious lewdness of the sleeping mind."
Explore Further
Related Quotes
"If we become increasingly humble about how little we know, we may be more eager to search."
— John Templeton"θεωρεῖν was not in origin a verb, but was derived from a noun: θεωρός; its basic meaning is 'to be a specta…"
— Bruno Snell"Nile Kinnck was born in 1902. Kinnick played basketball and football it high school. He moved on to play fo…"
— Nile Kinnick"Rational discourse is only one way of presenting and examining an issue and by no means the best. Our new i…"
— Paul Karl Feyerabend"I think it's important to take a break, you know, from the public eye for a while, and give people a chance…"
— Aaliyah"Success in the marketplace increasingly depends on learning, yet most people don't know how to learn."
— Chris Argyris
Related Thinkers
Related Topics
Deep Dives
- Leonardo da Vinci on knowledge
- Blaise Pascal on knowledge
- Nicholas of Cusa on knowledge
- Kenneth Arrow on knowledge
- W. Edwards Deming on knowledge
- Charles Babbage on knowledge
- John Wallis on knowledge
- William A. Dembski on knowledge
- Leonardo da Vinci on life
- Leonardo da Vinci on nature
- justice & Beauty
- justice & Change
