Your first time here? Welcome, I'm glad you've dropped in.... David Soul (aka Bricoleur)

Seldom do book publishers cover notes reflect the reality of the contents.  Even rarer is the case where they understate the charm and impact that a book can have, but this is the case in this work of Nassim Nicholas Taleb
Taleb (Random House, 2005 2nd ed.):

” … here is the word of mouth sensation that will change the way you think about business and the world.  This book is about luck: more precisely, aobut how we perceive luck in our personal and professional experiences.  Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill — the markets — Fooled by Randomness is an irreverent, iconoclastic, eye-opening and endlessly entertaining multidisciplinary exploration of one of the least understood forces in all of our lives.”

The author maintains that we underestimate the share of randomness in just about everything and that

the Tragic Vision of humankind that believes in the existence of inherent limitations and flaws in the way we think and act requires an acknowledgement of this fact as a basis for any individual and collective action.”  … “Needless to say that the ideas of this book fall squarely into the Tragic category: We are faulty and there is no need to bother trying to correct our flaws.  We are so defective and so mismatched to our environment that we can just work around these flaws.”

Methods to work around these flaws are, ofcourse, the themes of the Cybernetic and CEP streams in this web
site… You’ll find that this book is an excellent starting point to understand the magnitude of task that faces us… and the ultimate reminder that in many cases the false belief in determinism (often brought on by artificial reduction of the dimensionality of things) can be the beginning of the road to ruin for as Taleb so succinctly states in the prologue:

“As much as you believe in the ‘keep-it-simple-stupid’ it is the simplification that is dangerous.”

My ranking: * * * * *
originally Posted to by David Soul on 10/15/05; 8:56:58 PM

in the Errors section.

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