again. But my point is, we are now at the point where the next crisis will be exponentially larger than the last. And that's what complexity theory teaches us that the worst thing that can happen in a complex system is not a linear function of scale. It's an exponential function of scale. And all that means is that if you triple the system, you don't triple the risk. You increase it by 10, 100. Some factor, it's theoretical. You have to actually compute the factor, but it's a large multiple of the actual scale of the system. Well, if they barely hung on the last time, if they don't have the capacity to double down again, and if the next crisis is going to be worse for the reason I just mentioned, what are they going to do? Well, they're going to do two things that are different. And this is, even people who think maybe there's a crisis coming or maybe the system is unstable, which it is, even if you get that far. And most people aren't there. But if you do, people don't can't take the (67/98)
You are viewing a single comment's thread from: