I have been a fan of the #blackswantheory ever since Nassim Nicholas Taleb scripted the book in 2007. The #Covid19 pandemic is an eyeopener for all about the #fragility of the present world order. We, humans, have created complex and fragile structures and have compromised robustness in a tradeoff with optimisation. Abstruse dependability due to optimisation exposes entire humanity to the domino effect of #blackswanevents. We all understand that every crisis is finite, and this will be no different. However, we need to take cognisance from the event and its consequences.
It may sound crazy, but we need to evaluate our positions on the following:
- The perils of #Globalization Vs Strong #Localisation
- #Indebtedness Vs #Austerity
- #Optimisation Vs #Redundancy
- The logic of Mean Vs Preparedness for Extremes
We need to reassess our risk appetite in light of sustainability and sensibility.
