LIBERTARIANISM: SMALL IS BEAUTIFUL. 1) “Do not confuse absence of volatility wit

LIBERTARIANISM: SMALL IS BEAUTIFUL.

1) “Do not confuse absence of volatility with absence of risk.”

2) “Avoid optimization; learn to love redundancy. … Redundancy (in terms of having savings and cash under the mattress) is the opposite of debt. … Overspecialization also is not a great idea.”

3) “What is fragile should break early, while it’s still small. Nothing should ever become too big to fail.” …. “Compensate complexity with simplicity.”

4) “No socialization of losses and privatization of gains”…..”No incentives without disincentives: capitalism is about rewards and punishments, not just rewards.”

5) “[Build] an economic life closer to our biological environment: smaller firms, a richer ecology, no speculative leverage — a world in which entrepreneurs, not bankers, take the risks, and in which companies are born and die every day without making the news.”

LIBERTARIANISM IS LOVE OF THE SMALL: ITS JUST MATH.

(All quotes from Nassim Taleb’s Black Swan)