> No, it’s that the average person cannot make decisions about complex subjects. Can PhDs and Nobel Prize winners, the quintessential experts, make decisions a

> No, it’s that the average person cannot make decisions about complex subjects. Can PhDs and Nobel Prize winners, the quintessential experts, make decisions about complex subjects? If they could, wouldn't Long-Term Capital Management still exist today? Would the IMF have said, months before the subprime crisis, that global economic risks were on the decline?[0] Nassim Taleb's tweets are an endless source of examples of experts (PhDs, even!) being clueless, sometimes dangerously so. Excessive trust of subject matter experts is a very real danger, and a significant one. [0]: World Economic Outlook: Spillovers and Cycles in the Global Economy. Washington, DC: IMF, April, 2007