Long Term Thinkers Archives

What M. Planck, G.B. Shaw and A. Rand have to do with Risk Management?

What M. Planck, G.B. Shaw and A. Rand have to do with Risk Management? Max Planck wrote: “A new scientific truth does not triumph by convincing its opponents and making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it.” At Riskope belong to those who argue that the transition from faith and luck, which were two pillars, fortunately not the only ones, of planning/managing the future of…

Earthquakes, History and Cognitive/ Behavioral Biases

Earthquakes, History and Cognitive/ Behavioral Biases In 1570 AD a major earthquake hit the city of Ferrara tuck in between Florence and Venice in Italy. The seismic swarm destroyed over 40% of the buildings, but caused little harm to inhabitants. I can only imagine how the decision makers (reigning family) of the time were torn for the right course of action in the aftermath of the disaster. Here is my take on the different opinions that could have been expressed,…