![]() ![]() To explain how and why Black Swans occur, Taleb coins two categories to describe the measurable facets of existence: Extremistan and Mediocristan. ![]() Once Taleb introduces the concept of the Black Swan, he delves into human society and psychology, analyzing why modern civilization invites wild randomness and why humans can neither accept nor control that randomness. The fall of the Berlin Wall, the 1987 stock market crash, the creation of the Internet, 9/11, the 2008 financial crisis-all are Black Swans. ![]() Taleb’s thesis, however, is that Black Swans, by their very nature, are always unpredictable-they are the “unknown unknowns” for which even our most comprehensive models can’t account.
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