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A crucial point in The Black Swam is that randomness is relative. Something that's random to you is not necessarily random to someone else (i.e. the dots in the
by axiom 18y ago
A crucial point in The Black Swam is that randomness is relative. Something that's random to you is not necessarily random to someone else (i.e. the dots in the sky were randomly distributed and unpredictable to many people a few thousand years ago.) It's all about how much knowledge you have about the system.
So don't listen to SOME economists, and keep in mind their track record of predictions. Not all economists are equally bad.