Books with category Economic Theories
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The Black Swan: The Impact of the Highly Improbable

A black swan is a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. The astonishing success of Google was a black swan; so was 9/11. For Nassim Nicholas Taleb, black swans underlie almost everything about our world, from the rise of religions to events in our own personal lives.

Why do we not acknowledge the phenomenon of black swans until after they occur? Part of the answer, according to Taleb, is that humans are hardwired to learn specifics when they should be focused on generalities. We concentrate on things we already know and time and time again fail to take into consideration what we don’t know. We are, therefore, unable to truly estimate opportunities, too vulnerable to the impulse to simplify, narrate, and categorize, and not open enough to rewarding those who can imagine the "impossible."

For years, Taleb has studied how we fool ourselves into thinking we know more than we actually do. We restrict our thinking to the irrelevant and inconsequential, while large events continue to surprise us and shape our world. Now, in this revelatory book, Taleb explains everything we know about what we don’t know. He offers surprisingly simple tricks for dealing with black swans and benefiting from them.Elegant, startling, and universal in its applications. The Black Swan will change the way you look at the world. Taleb is a vastly entertaining writer, with wit, irreverence, and unusual stories to tell. He has a polymathic command of subjects ranging from cognitive science to business to probability theory. The Black Swan is a landmark book, itself a black swan.

The Conquest of Bread

2006

by Pyotr Kropotkin

The Conquest of Bread is Peter Kropotkin’s most extensive study of human needs and his outline of the most rational and equitable means of satisfying them. This work is a fascinating combination of detailed historical analysis and a far-reaching Utopian vision. It serves as a step-by-step guide to social revolution, detailing the concrete means of achieving it and the world that humanity’s "constructive genius" is capable of creating.

This edition includes a new introduction that situates the work historically and discusses the contemporary relevance of Kropotkin’s ideas.

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