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The Black Swan "A similar effect is taking place in economic life. I spoke about globalization in Chapter 3; it is here, but it is not all for the good: it creates interlocking fragility, while reducing volatility and giving the appearance of stability. In other words it creates devastating Black...
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Introduction "What we call here a Black Swan (and capitalize it) is an event with the following three attributes. "First, it is an outlier , as it lies outside the realm of regular expectations, because nothing in the past can convincingly point to its possibility. Second, it carries an extreme...