Echoes of Failure: Lessons from Financial and Oscar Disasters

With the 95th Academy Awards just around the corner, Tim Harford looks back at a basic lesson. Galileo tried to teach us that adding more and more layers to a system intended to avert disaster often makes catastrophe all the more likely. This principle has been ignored in nuclear power plants, financial markets and at the Oscars... all resulting in chaos.

For a full list of sources for this episode, go to timharford.com.

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