“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 impact. Third, in spite of its outlier status, human nature makes us concoct explanations for its occurrence after the fact, making it explainable and predictable.”
Taleb goes on to use September …show more content…
Did they learn that some events, owing to their dynamics, stand largely outside the realm of the predictable? No. Did they learn the built-in defect of conventional wisdom? No. What did they figure out? They learned precise rules for avoiding Islamic prototerrorists and tall buildings. “
We have learned not what to do to avoid terror attacks in general, but have put measures in place to keep these same attacks from happening again. But why is it so hard to put general preventative measures in place?
The crux of Taleb’s argument in “The Black Swan” is that we live in an increasingly complex society, where minor events rapidly snowball into the causes of larger events. As information flows increasingly rapidly through our society these events become harder and harder to predict. At the same time, these unexpected “Black Swan” events become increasingly impactful to society. Taleb argues that we are incapable of predicting these extremely impactful events but we refuse to acknowledge our limitations.
There is an additional factor at play when it comes to preventative measures. Taleb puts a forth a thought experiment where a legislator is able to enact a law that imposes continuously locked, bulletproof, doors on every airplane cockpit and therefore, unknowingly, prevents the September 11 …show more content…
With the attacks having never happened, his actions seem unwarranted. It appears that he has simply squandered resources and may very well be voted out of office. He retires with a great sense of failure, feeling he has accomplished