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Financial Times/Ian Goldin
“Edward Lorenz, father of chaos theory, showed that a butterfly flapping its wings over Brazil could cause a tornado in Texas. An intrinsic outcome of the growing integration and complexity of the global economy is that it too suffers from ‘a butterfly defect’”.
USAGOLD note: Goldin digs deeply into the dangers of globalization and the coronavirus as an example of a fractal event. He concludes that complex modern economic and social systems are “only as good as their weakest link.”
Image attribution: José Luis Llopis Fabra / CC BY-SA (https://creativecommons.org/licenses/by-sa/4.0)
Repost from 3-3-2020