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Currents 063: Jessica Flack on nth-Order Effects of the Russia-Ukraine War

The Jim Rutt Show

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Is There a Black Swan?

Most people thought that a world war one style war in europe was very unlikely to occur any time soon. And so we're raising our defence budgets a bunch. That strikes me as an example of this black swan that most people had discounted down to a very low level. Suddenly, there it is, and now we have to take it into consideration. The sort of literature that linking mechanistic models to pearls framework is still very much in development.

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