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The Black Swan

Second Edition: The Impact of the Highly Improbable
in: Economics
Summary:

The book examines the extreme impact of rare and unpredictable outlier events, and the human tendency to find simplistic explanations for these events retrospectively. It challenges our understanding of the world by focusing on the role of randomness, uncertainty, and probability, arguing that Black Swan events shape history much more than we realize.

Key points:

1. Black Swan Events: The book discusses Black Swan events, which are rare, unpredictable, and impactful occurrences often deemed obvious after they happen.

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