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> ... So-called “scientific forestry,” was that century’s growth hacking: it made timber yields easier to count, predict and harvest, and meant owners no longer
by mmaniac 3y ago
> ... So-called “scientific forestry,” was that century’s growth hacking: it made timber yields easier to count, predict and harvest, and meant owners no longer relied on skilled local foresters to manage forests. ...
This is a general principle of optimization, which maximises efficiency at the expense of redundancy and anti-fragility. Unfortunately, the ability to withstand an unexpected catastrophe does not appear on a balance sheet until the catastrophe strikes.
- euroderf 3y agoAnd then (as a general rule in the modern economy), if catastrophe strikes and you get a bailout, you have successfully socialized the risk. Profit!