How can evolutionary econ help us prepare for black swam events?2019-04-20T13:40:56+00:00
DWQA QuestionsCategory: Complexity EconomicsHow can evolutionary econ help us prepare for black swam events?
Danilo VazDanilo Vaz Staff asked 1 year ago

According to wikipedia, the “theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight.” The term was made popular by Nassim Nicholas Taleb in his book The Black Swan.
The financial crisis of 2008 is one of such events. Despite being an obvious phenomenon in retrospect, we just could not have seen it coming. Let alone prepare for it. Assuming that other black swan economic events are on their way, can evolutionary economic help in being somewhat prepared? At least to reduce damage.

John Pozzi replied 12 months ago

Yes, in the evolutionary economic Global Resource Bank economy

1 Answers
Joss ColchesterJoss Colchester Staff answered 1 month ago

The whole set of models surrounding critical slowing down and early warning signals are designed to give some insight into the potential occurrence of large scale nonlinear events in the near future, take a look here