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4 April 2011

How’s this for a visual metaphor?

One for the economist's album.

By David Blanchflower

 

I thought my holiday snap from Australia of a black swan plus audience might be of interest. As keen New Statesman readers will know, a black swan — as made famous by Nassim Nicholas Taleb‘s book — is an unpredictable and rare event.

It was assumed all swans were white until the end of the 17th century, when black swans were discovered in Australia.

The financial crisis was an event many standard deviations away from what was expected. The Asian economies have remained onlookers . . . so far.

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Select and enter your email address Your weekly guide to the best writing on ideas, politics, books and culture every Saturday. The best way to sign up for The Saturday Read is via saturdayread.substack.com The New Statesman's quick and essential guide to the news and politics of the day. The best way to sign up for Morning Call is via morningcall.substack.com Our Thursday ideas newsletter, delving into philosophy, criticism, and intellectual history. The best way to sign up for The Salvo is via thesalvo.substack.com Stay up to date with NS events, subscription offers & updates. Weekly analysis of the shift to a new economy from the New Statesman's Spotlight on Policy team.
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