Eschatologist #10 Mediocristan and Extremistan

There are at least two kinds of randomness in the world: normal, as in a normal distribution or a bell curve, and extreme. As humans we're used to the normal distribution. That's the kind of thing we dealt with a lot over the thousands of years of our existence. It's only recently that the extreme distribution has come to predominate. Nassim Taleb has labeled the first mediocristan and the second extremistan. In this podcast we explore the difference between the two and how the tools of mediocristan are inadequate to the disasters of extremistan.