Sfortuna.
... Black’s hypothesis that a financial crisis can arise from extreme bad luck is more plausible than is usually realized...... a lot of wealth was created in the 1990's, particularly in rapidly developing countries. People felt inclined to take risks with this new wealth, and they felt inclined to trust others to select the risks to take.... The risk-taking became excessive, and we had a crash... Now, there is a big mess, and there is not much anyone can do about it.
A volte pensiamo che poche regole spingano gli individui ad arricchirsi in modo spericolato finchè non fanno il botto. Ma la relazione potrebbe essere invertita: chi si arricchisce tende anche ad essere più spericolato con la nuova ricchezza acquisita.
p.s. disponibile il testo completo del saggio.
