The latest print version of Bloomberg Businessweek features the following quotation from Nassim N. Taleb, author of The Black Swan:
”We’re not living in capitalism. We’re not living in socialism. We’re living in some weird economic situation with the banks controlling more than their share. It’s like we’re serving them rather than them serving us.”
Not capitalism? Not socialism? Bailed-out banks that are too big to fail? Perhaps Taleb could follow Tom Palmer’s lead in identifying the problem as cronyism.
