When, along with applied systems scientist Dr Joe Norman, we first reacted to coronavirus on 25 January with the publication of an academic note urging caution, the virus had reportedly infected fewer than 2,000 people worldwide and fewer than 60 people were dead. That number need not have been so high.
The U.S. government is enacting measures to save the airlines, Boeing, and similarly affected corporations. While we clearly insist that these companies must be saved, there may be ethical, economic, and structural problems associated with the details of the execution. As a matter of fact, if you study the history of bailouts, there will be.
Third conversation between Nassim Nicholas Taleb & Yaneer Bar-Yam about uncertainty, certainty and what to do when there is a systemic risk; what not to do when a truck is headed your way. How acting early would have cost less? They also discuss:
John Ioannidis recent post “we are making decisions without reliable data”
Why we should make decisions without reliable data & use precautionary principles
How the costs would be so much smaller if we would have acted earlier.
Ethics of Precaution: Individual and Systemic Risk Nassim Nicholas Taleb and Joseph Norman New England Complex Systems Institute, School of Engineering, New York University PDF Download Link: academia.edu/42223846…
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