Tag markets

Efficiency Breeds Fragility

In The Collapse of Complex Societies, Joseph Tainter argues: Societies become more complex as they try to solve problems that affect it as a whole. What is Complexity? Fragility Hides in Dependencies The networks that connect us can amplify any…

The Ruin Problem

Meaning Not all Losses are Ruin Problems Why Ruin Problems Must be Considered Seriously “Because the ‘cost’ of ruin is effectively infinite, cost-benefit analysis… is no longer a useful paradigm..When the harm is infinite, the product of any non- zero…