Dispatches from Extremistan
A “black swan,” Taleb explained, is an event which is 1) Hard to predict; 2) Highly consequential; 3) Wrongly retro-predicted. We pretend we know why the big event happened, and so entrench our inability to deal with the next world-changing improbable event.
Examples: Viagra, 9/11, Harry Potter, First World War, Beatles, the PC, Google, and the rise of any successful religion. History is dominated by sudden, lasting changes wrought by deeply unexpected events.
Part of the problem is that we ignore the “silent evidence” of the nonobserved and nonobservable…
Read the rest of Stewart Brand’s Summary
More from Economics —
Explore over two decades of long-term thinking
- Climate Change