Any system susceptible to a Black Swan will eventually blow up.
–Nassim Taleb [Link is a pdf.]
Some Chicago Boyz know each other from student days at the University of Chicago. Others are Chicago boys in spirit. The blog name is also intended as a good-humored gesture of admiration for distinguished Chicago School economists and fellow travelers.
Any system susceptible to a Black Swan will eventually blow up.
–Nassim Taleb [Link is a pdf.]
Cheryl Rofer was kind enough to post an essay where she discusses her attempts to understand the mindset behind the supporters of Glenn Beck, Sarah Palin, and the Tea Party movement.
That essay has invited a fair number of comments, some of them less than kind. When I noted that Ms. Rofer was trying to reach Tea Party satori by mulling over the life of Tchaikovsky, and the writings of authors who hail from Spain and Great Britain, I am afraid that I became guilty of writing something negative myself….
“You conflate a Russian composer and a British novelist with an American grass roots movement that is devoted to shrinking the size of government? I think it is pretty obvious why you are confused!”
That was both unkind and uncalled for, and I apologize to Ms. Rofer unreservedly.
As a gesture to show that I take her seriously, I would like to try and smooth the way for her a little bit. But to do that, I will have to bore you all to tears by explaining my own background. My only defense for this terrible waste of your time is that I believe it will lead to a better meeting of minds.