Just finished reading a very comprehensive New Yorker article [log-in required] on the events leading up to the collapse of Lehman and, by extension, the world economic crisis.
The article's conclusion is that despite the extensive (and arguably justified) critism of the bailout, the feeling that at least some comprehensive plan was in place prevented the worldwide financial panic we feared in the nervous months after Lehman.
This reminded me of two things. First, an article in Wired about virus theory wherein researchers ran thousands of computer simulations to predict the spread of world-threatening viruses if they found their way in to the population. The other, a practical guide to removing stains.
In both cases, the conclusions were the same. I doesn't so much matter what you do as long as you DO SOMETHING. Close the schools, quarantine, stop interstate travel, rub with soap and warm water - any preventative measure is better than nothing and, generally speaking, enough to stop a crisis.
Sunday, September 27, 2009
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3 comments:
What's worse than doing nothing? Doing the wrong thing.
Er, wrong.
"I doesn't so much matter what you do as long as you DO SOMETHING."
Er, wrong.
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