Probability and Economic Consequences
- Black swan theory, term developed by Nassim Taleb to label unexpected, rare events
- The Black Swan, a book by Nassim Taleb often cited in financial circles
Read more about this topic: Black Swans
Famous quotes containing the words probability, economic and/or consequences:
“Liberty is a blessing so inestimable, that, wherever there appears any probability of recovering it, a nation may willingly run many hazards, and ought not even to repine at the greatest effusion of blood or dissipation of treasure.”
—David Hume (1711–1776)
“Society’s double behavioral standard for women and for men is, in fact, a more effective deterrent than economic discrimination because it is more insidious, less tangible. Economic disadvantages involve ascertainable amounts, but the very nature of societal value judgments makes them harder to define, their effects harder to relate.”
—Anne Tucker (b. 1945)
“We are still barely conscious of how harmful it is to treat children in a degrading manner. Treating them with respect and recognizing the consequences of their being humiliated are by no means intellectual matters; otherwise, their importance would long since have been generally recognized.”
—Alice Miller (20th century)