Foreign Policy Magazine’s Benjamin Pauker interviewed Nassim Taleb for the November issue.One of the things Taleb discussed with Pauker was how he thinks European leaders are headed in the complete opposite direction right now in trying to solve the euro crisis.
Here’s Taleb, via FP:
The most stable country in the history of mankind, and probably the most boring, by the way, is Switzerland. It’s not even a city-state environment; it’s a municipal state. Most decisions are made at the local level, which allows for distributed errors that don’t adversely affect the wider system. Meanwhile, people want a united Europe, more alignment, and look at the problems. The solution is right in the middle of Europe — Switzerland. It’s not united! It doesn’t have a Brussels! It doesn’t need one.
The European Union is a horrible, stupid project. The idea that unification would create an economy that could compete with China and be more like the United States is pure garbage. What ruined China, throughout history, is the top-down state. What made Europe great was the diversity: political and economic. Having the same currency, the euro, was a terrible idea. It encouraged everyone to borrow to the hilt.
Taleb has never been known to hide his opinion. In the interview, he also shares his thoughts on the U.S.
Read the rest at Foreign Policy >
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