Can economic systems also act like natural systems? The interdisciplinary practice of econophysics looks for the parallels between the two, and like the recently uncovered fact that rogue light bursts can occur in optical fiber, or the confirmation of towering, unpredicted ocean waves, recent research that suggests the equity markets may also exhibit similar characteristics, the kind of unexpected and devastating events Nassim Nicholas Taleb called "Black Swans" at the 2008 IdeaFestival. Put one way, they are the infrequent but inevitable consequence of open non-linear systems.
Put another, life is unpredictable.
Wayne
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