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FENOMENA

ANGSA HITAM
The Black Swan of Cairo
N. N. Taleb and M. Blyth (2011)

FEBRUARY 2024

How Suppressing Volatility Makes the World Less Predictable and More Dangerous
Fenomena Angsa Hitam

The artificially constrained systems, in the name of stability become


extremely vulnerable to largescale events that lie far from the
statistical norm and were largely unpredictable to a given set of
observers

The longer it takes for the blowup to occur, the worse the resulting
harm in both economic and political systems

Fenomena Angsa Hitam


Fenomena Angsa Hitam

The rise of complexity,


interdependence, and
unpredictability

ILLUSION OF The great Fragiling the


STABILITY moderation goverment

Fenomena Angsa Hitam


Fenomena Angsa Hitam

SEDUCED BY STABILITY
• SUPPORT THE INCUMBENT

to prevent volatility on the grounds that any and all bumps in the road must be
avoided

PARADOXICALLY

Increase the probability that a tail risk


will cause a major explosion

• Black Swans hiding behind deceptive periods of “great moderation.”


Fenomena Angsa Hitam
Fenomena Angsa
Hitam

TURKEY PROBLEM
Thanksgiving is illustrative: the turkey
is fed for 1,000 days and every day
seems to confirm that the farmer
cares for it—until the last day.

“ a naive analysis of stability is


derived from the absence of past
variations “

Fenomena Angsa Hitam


Fenomena Angsa Hitam

LINEAR
is characterized by its predictability and
the low degree of interaction among its
components

COMPLEX
HUMAN SYSTEM • extremely low predictability
• high degree of interdependence

Fenomena Angsa Hitam


Fenomena Angsa Hitam

TIPPING POINTS POLICY ERROR

Black Swan

DECEPTIVE CALM

Not statistically
CHAOS understandable at the
Sand pile
individual level

” the illusion of local causal chains “

Fenomena Angsa Hitam


Fenomena Angsa Hitam

The Construction of False Confidence


Based an erroneous focus

M F
A R
S Counter
Fallacies
Fabricated A
Knowledge hoax
S U
OPINION D
S
THE FEAR OF RANDOMNESS

THE RISK OF A DICTATORSHIP

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Fenomena Angsa Hitam

DEMOCRACY ?
Where the incentive is to always promise a better outcome than the other guy,
regardless of the actual, delayed cost.

“ What really makes the species prosper


is not peace so much as freedom “
(J. J. Rousseau )

“ SHOCK ABSORBER “

Fenomena Angsa Hitam


Fenomena Angsa Hitam

PERCULATION THEORY

NO STABILITY WITHOUT VOLATILITY


NO FREEDOM WITHOUT NOISE

maturity
FOOL WISDOM

education
STUPID CLEVER

Fenomena Angsa Hitam


Fenomena Angsa Hitam

HAPPY PLANET INDEX : LIFE SATISFACTION X LIFE EXPECTANCE


ECOLOGICAL FOOTPRINTS

IKN FE

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Fenomena Angsa Hitam

EVERY POWERFUL MOVEMENT


FOR TRANSFORMATIONAL SOCIAL CHANGE
BEGINS WITH A CONVERSATION

CHANGE WE CAN BELIEVE IN


( BARACK OBAMA, 2008 )

Fenomena Angsa Hitam

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