Close
Enter your search into one or more of the boxes below:
You can refine your search by selecting from any of the options below:
Search
Your Shopping Basket
Total number of items: 0
Sub total: £0.00
Go to Checkout
Our Birmingham Shop
Our Bristol Shop
Animators Survival Kit

Nassim Taleb: More debt will not solve economic crisis

12th May 2010

The world's governments have to put in 'blood, sweat and tears' to end the global financial crisis, one expert has suggested.

In an interview with Bloomberg Radio, The Black Swan author Nassim Nicholas Taleb pointed out that the economic downturn arose because of growing debt and suggested borrowing more money may not be the best way to rectify this.

Taleb, who is a professor of risk engineering at New York University, likened the ongoing financial crisis to a 'cancer' affecting the world's economies and claimed 'all we've been giving the patient is painkillers'.

'The tumour is getting worse because we are transforming private debt into public debt and public debt is not manageable,' he told the broadcaster.

Offering advice to global leaders, the expert recommended they take urgent steps to cut public debt as it is 'immoral' that future generations should be expected to pay for the mistakes of this one.

The Black Swan, which examines how random events dictate the outcome of everyday occurrences and worldwide events, was described as 'idiosyncratically brilliant' in the Sunday Telegraph by historian Niall Ferguson.

Latest Blog
From Page to Stage - Adapting The Hunting of the Snark
24/07/2017

Garry McQuinn, Producer of The Hunting of the Snark, which opens this week at London's Vaudeville Theatre, describes the journey from page to stage.

#FoylesFive: Celebrating Beer
23/07/2017

Earlier this year, Belgian beer culture finally officially took its rightful place on the World's Intangible Cultural Heritage list, where it now sits in good company with the likes of the French gastronomic meal, Cuban rumba and Spanish flamenco. To celebrate, here is a far from exhaustive selection of some of the beer literature that can help you better appreciate the delicate arts of brewing and drinking beer.

#FoylesFave: Dunkirk
21/07/2017

This month history buffs and film fans are united as they eagerly await Christopher Nolan's portrayal of Dunkirk. Madga from our Birmingham branch reviews the accompanying book.

View all Blog Entries
Twitter
Show/Hide Tweets
© W&G Foyle Ltd