Nassim Nicholas Taleb on the Precautionary Principle and Genetically Modified Organisms
2015-01-19 · 68 min · episode 456 · 21 entities
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Nassim Nicholas Taleb on the Precautionary Principle and Genetically Modified Organisms
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Feed author/publisher: Russ Roberts
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Nassim Nicholas Taleb on the Precautionary Principle and Genetically Modified Organisms
Episode description as stored
Nassim Nicholas Taleb, author of Antifragile, Black Swan, and Fooled by Randomness, talks with EconTalk host Russ Roberts about a recent co-authored paper on the risks of genetically modified organisms (GMOs) and the use of the Precautionary Principle. Taleb contrasts harm with ruin and explains how the differences imply different rules of behavior when dealing with the risk of each. Taleb argues that when considering the riskiness of GMOs, the right understanding of statistics is more valuable than expertise in biology or genetics. The central issue that pervades the conversation is how to cope with a small non-negligible risk of catastrophe.