Nassim Taleb says,



I noticed that while _____ models got worse and worse in tracking reality, their use kept increasing as if nothing was happening. Why? … It looks like science, and they have been brainwashing more than 100,000 students a year. There is no way my experiences can be transmitted to the next generation because of these schools. We’ve had fiascoes in _____ that they need to neglect because they contradict their models. The problem may also be the Nobel in _____ that gave a stamp to these junky theories. Someone needs to make the Nobel committee account for this, for the damage to society – and I hope to do so.


Taleb, author of The Black Swan, was talking about financial markets and business schools, not global warming and elementary schools. His commentary on the limits of models is broadly valuable. Taleb talked about black swans on EconTalk a year ago.