What makes the 21st century different from the 20th century?
This century is the century of extremes -- political, economic,
social, and global black-swan events happening with increasing
frequency and severity. Book of Extremes is a tour of the current
reality as seen through the lens of complexity theory the only
theory capable of explaining why the Arab Spring happened and why
it will happen again; why social networks in the virtual world
behave like flashmobs in the physical world; why financial bubbles
blow up in our faces and will grow and burst again; why the rich
get richer and will continue to get richer regardless of
governmental policies; why the future of economic wealth and
national power lies in comparative advantage and global trade; why
natural disasters will continue to get bigger and happen more
frequently; and why the Internet invented by the US -- is headed
for a global monopoly controlled by a non-US corporation. It is
also about the extreme innovations and heroic innovators yet to be
discovered and recognized over the next 100 years.Complexity theory
combines the predictable with the unpredictable. It assumes a
nonlinear world of long-tailed distributions instead of the
classical linear world of normal distributions. In the complex 21st
century, almost nothing is linear or normal. Instead, the world is
highly connected, conditional, nonlinear, fractal, and punctuated.
Life in the 21st century is a long-tailed random walk Levy walks --
through extreme events of unprecedented impact. It is an exciting
time to be alive.
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