Running Amok in Labyrinthine Systems:
The Cyber-Behaviorist Origins of Soft Torture
At the Macy Foundation conference on cybernetics in 1951 the inveterate inventor of information theory, Claude Shannon, shocked an assembled crowd when he debuted an electronic rat he had built. (I use the word “debut”
Running Amok in Labyrinthine Systems:
The Cyber-Behaviorist Origins of Soft Torture
At the Macy Foundation conference on cybernetics in 1951 the inveterate inventor of information theory, Claude Shannon, shocked an assembled crowd when he debuted an electronic rat he had built. (I use the word “debut”
The ‘Becoming’ Insurable of Terrorism Risk in the US: Imagining Systemic Risk
“Where does the boundary lie between the history of knowledge and the history of imagination?” (Foucault 1991: 64). Or, what is a systemic risk? Background: The Terrorism Risk Insurance Act (TRIA) enacted into
The ‘Becoming’ Insurable of Terrorism Risk in the US: Imagining Systemic Risk
“Where does the boundary lie between the history of knowledge and the history of imagination?” (Foucault 1991: 64). Or, what is a systemic risk? Background: The Terrorism Risk Insurance Act (TRIA) enacted into
The OECD report on Emerging Risks: 2003
View the report “Emerging Systemic Risks in the 21st Century: An Agenda for Action”
Systems at Risk as Risk to the System
Systemic risk in finance refers to at least three things, according to George G. Kaufman and Kenneth E. Scott: It connotes a macro shock that produces nearly simultaneous, large, adverse effects in most or
Systemic risk in consumer finance
At the end of the great credit bubble there was still a tremendous amount of borrowing potential in the hands of consumers. Of the $5 trillion in US credit card lines outstanding only $800 billion was
Uncertain about risk
It was hard not be impressed with how this simple chart summarized the course of an astoundingly complex historical event
How Shit Happens, or, How Audit Systems and Sewer States Lead to Tainted Beef
We live in a risk society. On a never-ending search-and-destroy mission to eliminate sources of potential harm, we constantly develop new systems to identify it and mitigate it. But do risk-management
How Shit Happens, or, How Audit Systems and Sewer States Lead to Tainted Beef
We live in a risk society. On a never-ending search-and-destroy mission to eliminate sources of potential harm, we constantly develop new systems to identify it and mitigate it. But do risk-management
Logistics’ Liabilities
In the midst of crisis, public debate about the future of the economy has largely focused on the systemic vulnerability of finance systems. Yet, a different kind of concern with systemic economic risk has
How W32.stuxnet works
Symantec security response demonstrates how to hack a nuclear power plant. Read their report.
The Morris Worm
The Morris worm was released in November of 1988. It was launched surreptitiously from an MIT computer by graduate student Robert Tappan Morris at Cornell University, and spread to internet-connected computers running the BSD variant of
Complexity, Ecology, Finance
Andrew Haldane, Senior Bank of England official, has called for more ecology in the study of finance (read his report). A Financial Times Article reports and offers analysis by prodigal anthropologist Gillian Tett (and co-authors).
The Pre-History of Resilience in Ecological Research
The notion of resilience has become increasingly salient in recent decades in fields ranging from public health preparedness to critical infrastructure protection. As Benjamin Sims has noted, the use of the concept of resilience to
The Pre-History of Resilience in Ecological Research
The notion of resilience has become increasingly salient in recent decades in fields ranging from public health preparedness to critical infrastructure protection. As Benjamin Sims has noted, the use of the concept of resilience to
Resilience and Homeland Security:
Patriotism, Anxiety, and Complex System Dynamics
In the realm of U.S. homeland security, the word of the day seems to be “resilience.” As a sociologist working in this area, I encounter the term more and more frequently, in a variety of contexts.
System Vulnerability and the Problem of National Survival
In a 1962 lecture to the War Industrial College, the Director of the US Office of Emergency Planning (OEP), Edward McDermott, described his agency’s mission. Charged with preparing the nation for nuclear war,
System Vulnerability and the Problem of National Survival
In a 1962 lecture to the War Industrial College, the Director of the US Office of Emergency Planning (OEP), Edward McDermott, described his agency’s mission. Charged with preparing the nation for nuclear war,
Systemic Financial Risks and How to Cope With Them
According to Michael Woodward (2009) modern macroeconomics has seen a convergence of views centred around the ‘efficient market hypothesis’ (EMH). This theoretical position posits that all unfettered markets clear continuously
Systemic Financial Risks and How to Cope With Them
According to Michael Woodward (2009) modern macroeconomics has seen a convergence of views centred around the ‘efficient market hypothesis’ (EMH). This theoretical position posits that all unfettered markets clear continuously
The Emergence of Systemic Financial Risk: From Structural Adjustment (Back) To Vulnerability Reduction
Since the early 1980s, national financial systems began to play an increasingly important role in the creation and distribution of wealth in modern capitalist economies. This structural transformation was celebrated by macroeconomists and policymakers,
The Emergence of Systemic Financial Risk: From Structural Adjustment (Back) To Vulnerability Reduction
Since the early 1980s, national financial systems began to play an increasingly important role in the creation and distribution of wealth in modern capitalist economies. This structural transformation was celebrated by macroeconomists and policymakers,
Introduction: Systemic Risk
This LIMN examines the concept of systemic risk. Systemic risk has become a central topic of expert discussion and political debate amidst the financial crisis that began in 2008, but it also
