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Tyler Cowen discusses Black Swans

What would we do if it turned out there were more black swans than we had thought?

In this excellent video, Tyler Cowen discusses Black Swans.

A black swan is an event with three attributes: (1) it is an outlier; (2) it carries extreme impact; and (3) human nature makes it retrospectively explainable.

Still curious? Check out The Danger of Storytelling.