Much like the power grid, the financial system is a series of complex, interlocking contingencies. And in such a system, the biggest risk of all – that the system as a whole might fail – is not related in any simple way to the risk profiles of its individual parts [….] It may be true, in fact, that complex networks such as financial systems face an inescapable trade-off – between size and efficiency on one hand, and global stability on the other.
Too complex to exist
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From jeffmacintyre.com: Too complex to exist http://bit.ly/2RIQwi
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From jeffmacintyre.com: Too complex to exist http://bit.ly/2RIQwi
This comment was originally posted on Twitter
Too complex to exist | jeffmacintyre.com http://tinyurl.com/lhnubo
This comment was originally posted on Twitter