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November 22 - December 23, 2019
we frequently avoid making choices not because the outcome is bad, but simply because it’s unknown.
Risk Lives in the Future “Artisans, say, taxi drivers, prostitutes (a very, very old profession), carpenters, plumbers, tailors, and dentists, have some volatility in their income but they are rather robust to a minor professional Black Swan, one that would bring their income to a complete halt. Their risks are visible. Not so with employees, who have no volatility, but can be surprised to see their income going to zero after a phone call from the personnel department. Employees� risks are hidden. Thanks to variability, these artisanal careers harbor a bit of antifragility: small variations
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