Is climate change a ‘black swan’?

  • Economy Premium
  • Monday, 13 Nov 2017

The list of natural disasters runs long

THE “black swan” concept came from the Western world. For a very long time, the West was of the view that all the swans are white until the discovery of black swans in Australia by Dutch explorer Willem de Vlamingh in 1697.

The “surprise” discovery of black swans subsequently gave rise to the definition of “black swans” or “black swan events” which refer to events that take place unexpectedly or unprecedented at that point in time.

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