I am reading Nassim Taleb’s Antifragile and then I went back to rereading parts of his extraordinary Black Swan. The Black Swan’s blurb by Daniel Kahneman, “The Black Swan changed my view of how the world works” is fully justified. It will remain one of absolutely indispensable books, a huge epistemological advance. Antifragile is, perhaps, an even more ambitious book because it aims to make systems (including people) antifragile, that is thriving in conditions of (what Taleb calls) “opaque randomness”. So, it is broader in scope and has a prescriptive part that The Black Swan does not.
Here I would like to address one of the two themes of Taleb’s that find immediate resonance among people who work on income inequality and globalization: the former one. I leave globalization for another post.Wonkish.
Pareto, Taleb and the tails of income distributions
Branko Milanovic | Visiting Presidential Professor at City University of New York Graduate Center and senior scholar at the Luxembourg Income Study (LIS), and formerly lead economist in the World Bank's research department and senior associate at Carnegie Endowment for International Peace