Study Guide

The Black Swan: The Impact of the Highly Improbable - Part Three: Those Gray Swans of Extremism, Chapter 18: The Uncertainty of the Phony Summary & Analysis

Nassim Taleb
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Part Three: Those Gray Swans of Extremism, Chapter 18: The Uncertainty of the Phony Summary and Analysis

Summary

The problems with traditional ways of looking at uncertainty were brought out in Chapter 18. Many respected professionals have rolled out the idea of quantum physics uncertainty and applied it to uncertainty in economics, politics and other areas. This was shown to be extremely poor thinking, since quantum physics has had no impact on the world in which we live, other than for very small-scale electronics. What has occurred is that the quantum uncertainty has not been perceived by human beings due to the effect of large numbers. Large numbers alluded to the phenomenon of something that looked smooth from afar appeared very rough when looked up close. Our place in reality saw quantum uncertainty from so...

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This section contains 363 words
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