Black Swans - Probability and Economic Consequences

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:

    “Only in Britain could it be thought a defect to be “too clever by half.” The probability is that too many people are too stupid by three-quarters.”
    —John Major (b. 1943)

    “A society in which everyone works is not necessarily a free society and may indeed be a slave society; on the other hand, a society in which there is widespread economic insecurity can turn freedom into a barren and vapid right for the millions of people.”
    —Eleanor Roosevelt (1884–1962)

    “The consequences of our actions grab us by the scruff of our necks, quite indifferent to our claim that we have “gotten better” in the meantime.”
    —Friedrich Nietzsche (1844–1900)