The Black Swan: The Impact of the Highly Improbable

The Black Swan: The Impact of the Highly Improbable

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In Black Swan: The Impact of The Highly Improbable, the author projects randomness and uncertainty as a single idea. He puts forth a theory that promotes the idea and value of a society that stands robust in the face of negative events, and manipulates the positive ones to its advantage.According to Taleb, a Black Swan event is a rare event that has large magnitude and powerful consequences owing to its unpredictability. Such an event is initially a surprise to its observer, but is rationalized by him/her in retrospect. World War I, the rise of the Internet, and the 9/11 attacks on the World Trade Center are cited as examples of Black Swan events.

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