“The bottom line was that the scheme was a measured risk, with a probability that the RBI would lose money, a certainty that the bankers would make money, but also a reasonable chance that the country would be significantly better… — Raghuram G. Rajan Copy Share Image
“People simply do not understand numbers, risk, or probability, and few things can make discussion between experts and laypeople more frustrating than this “innumeracy,” as the mathematician John Allen Paulos memorably called it. For people who believe flying is dangerous,… — Thomas M. Nichols Copy Share Image
