majamin
Critical Thinker
- Joined
- Aug 2, 2009
- Messages
- 310
I recently read a Popular Mechanics article, "How The Blowout Happened" (October 2010), which described the events culminating in the destruction of BP's Deepwater Horizon oil rig. It also listed this disaster amongst others (Chernobyl, Challenger, Three Mile Island) as a Black Swan event. Black Swan events are 'unknown unknowns' that are rare and have an extreme impact. I would classify all of the BP, Chernobyl, Challenger, and Three Mile Island accidents as being rare, and having an extreme impact, but I'm not satisfied that they can be described as being 'unknown unknowns'.
In at least the BP, Chernobyl, and Challenger events (perhaps not Three Mile Island), there was knowledge that upped the measure of risk, but that was ignored. That is, backup and safety systems (BP), O-ring design (Challenger), and unauthorized safety tests (Chernobyl).
Since there was knowledge of potential problems prior to the incidents (unlike the Black Swan analogy, where there was no idea of the possibility), shouldn't these events be called "known unknowns"? Although very rare and serious, my contention is that these events cannot be called true Black Swan events. I wanted to post this here, because I'm intending to write a sincere letter to the editor, but I wanted to get my ideas straight before I did so.
What do you think? Are these said events true Black Swans?
In at least the BP, Chernobyl, and Challenger events (perhaps not Three Mile Island), there was knowledge that upped the measure of risk, but that was ignored. That is, backup and safety systems (BP), O-ring design (Challenger), and unauthorized safety tests (Chernobyl).
Since there was knowledge of potential problems prior to the incidents (unlike the Black Swan analogy, where there was no idea of the possibility), shouldn't these events be called "known unknowns"? Although very rare and serious, my contention is that these events cannot be called true Black Swan events. I wanted to post this here, because I'm intending to write a sincere letter to the editor, but I wanted to get my ideas straight before I did so.
What do you think? Are these said events true Black Swans?
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