FT Alphaville » Blog Archive » How the failure of Lehman Bros is like SARS, and swine flu
An external event strikes. Fear grips the system which, in consequence, seizes. The resulting collateral damage is wide and deep. Yet the triggering event is, with hindsight, found to have been rather modest. The flap of a butterfly’s wing in New York or Guangdong generates a hurricane for the world economy. The dynamics appear chaotic, mathematically and metaphorically.
Thursday, August 20, 2009
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