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The Covid-19 crisis and the Austrian response

The Covid-19 crisis was predictable and predicted. Many called it wrongly a Black Swan, even a grey rhino, while, in fact, it was a White Swan as described by Nassim Taleb, the author of ‘The Black Swan’, who famously predicted the Great Financial Crisis in 2007. The reality, is that most incorrectly understood the Covid-19 crisis, and thus were unprepared for what was coming; while, on the other hand, those dealing with systemic thinking and complex systems, who outlined a realistic scenario of the global virus outbreak in January itself, were sitting in a quiet corner and watching the crisis unfold.

Read the article for the Indian Think Tank ORF.

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