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The Black Swan The Impact Of The Highly Improbable Summary

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In his article, The Black Swan: The Impact of the Highly Improbable, Nassim Nicholas Taleb claims that, “[The Black Swan] illustrates a severe limitation to our learning from observations or experience and the fragility of our knowledge.” Which means that if we receive one piece of evidence which deviates from the information that we have collected and claimed as true for a long ti then large amounts of doubt can and will occur in all information which we had claimed as certain in the past. Using the example that was described in the article, for millennia it was believed that all swans were white because millions were observed to have this quality and there was no known evidence of the existence of swans of any other colour. However, while …show more content…

Regarding the sinking of the Titanic, we can see that it is a perfect example of a Black Swan because it was famously known as the “unsinkable”, however that was not the case as it tragically crashed into an iceberg the morning of April 15, 1912. The Titanic was called unsinkable because it had sealed chambers in its lowest decks so that if it were to start taking on water, the ship still would be able to continue to its destination. Since the Titanic was claimed to be unsinkable, and no one made any substantial challenges to this claim, the sinking of it was seen as an impossibility, therefore making it a Black Swan. If we now consider the event of the 2004 Indian Ocean earthquake and tsunami, we can see that it too is a Black Swan. During this period of time there was no earthquake detection system in place in southeast asia since earthquakes were not common in that region. Large scale earthquakes and their resulting tsunamis occur so infrequently in southeast asia that many people were not prepared in the event that one should occur and because of that many lives, homes and livelihoods were lost. This event was not predicted and its impacts was great; these two factors cause it to be a Black

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