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“ ”Another way to view it: the iatrogenics is in the patient, not in the treatment. If the patient is close to death, all speculative treatments should be encouraged — no holds barred. Conversely, if the patient is near healthy, then Mother Nature should be the doctor.
Nassim Nicholas Taleb (born 1 January 1960 in Amioun, Lebanon) is an essayist, epistemologist, researcher, and former practitioner of mathematical finance.
Biography information from Wikiquote
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If you hear a “prominent” economist using the word equilibrium, or normal distribution, do not argue with him; just ignore him, or try to put a rat down his shirt.
No, businessmen as risk takers are not subjected to the judgment of other businessmen, only to that of their personal accountant.
Clearly, an open mind is a necessity when dealing with randomness. Popper believed that any idea of Utopia is necessarily closed owing to the fact that it chokes its own refutations. The simple notion of a good model for society that cannot be left open for falsification is totalitarian. I learned from Popper, in addition to the difference between an open and a closed society, that between an open and a closed mind.