National Public Radio's Planet Money blog yesterday released a short podcast interview with Nassim Taleb. A couple years ago, Taleb wrote Black Swans. He explained that "Black Swans" are rare, extreme events that can drive the economy. Taleb believes that economic models can provide helpful forecasts much of the time; but that certain events that can't be foreseen or forecast, end up driving and changing markets.
The NPR interview is interesting. I recommend it. But I also recommend the interview Russ Roberts did with Taleb on Econtalk in 2007, in 2009, and earlier this year. They run from just under an hour to more than an hour and a quarter. But they are worthwhile.