Tuesday, March 24, 2009

too big to fail

The big book I've just started, Re-engineering Philosophy for Limited Beings, points out that errors and failures are a key part of our learning process. If we were to accomplish the "goal" of many theories and methods of stopping errors and failures, we would stop learning.
The assumption that the risk management techniques and other fancy features of the economy would stabilize it and moderate the business cycle was unrealistic. An assumption that any human-created system can operate without failure misunderstands the nature of human-created systems.
In fact, because we expect them to evolve, human systems must fail every so often.

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