Fragile By Design
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Fragile by Design
Author: Charles W. Calomiris
language: en
Publisher: Princeton University Press
Release Date: 2014-02-23
Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
Anti-fragile ICT Systems
This book introduces a novel approach to the design and operation of large ICT systems. It views the technical solutions and their stakeholders as complex adaptive systems and argues that traditional risk analyses cannot predict all future incidents with major impacts. To avoid unacceptable events, it is necessary to establish and operate anti-fragile ICT systems that limit the impact of all incidents, and which learn from small-impact incidents how to function increasingly well in changing environments. The book applies four design principles and one operational principle to achieve anti-fragility for different classes of incidents. It discusses how systems can achieve high availability, prevent malware epidemics, and detect anomalies. Analyses of Netflix’s media streaming solution, Norwegian telecom infrastructures, e-government platforms, and Numenta’s anomaly detection software show that cloud computing is essential to achieving anti-fragility for classes of events with negative impacts.
Societal Dynamics and Fragility
Author: The World Bank
language: en
Publisher: World Bank Publications
Release Date: 2012-10-12
Today's world is changing at breakneck speed, shaking the very foundations of many societies. Increased mobility through massive urbanization and migration allows people unprecedented access to different cultures and ideas; advanced technologies speed the pace of human interaction; the globalization of communication offers new forms of social relationships that may directly contradict traditional norms for behavior. These changes create tremendous stresses on relationships in societies - affecting the way youth interact with their elders, the way women and men relate to each other, how urban migrants and refugees relate to their new environments, and so on. The impacts of these changes are felt acutely in 'fragile' situations, where groups and institutions struggle to adapt to the stresses of rapid social change. In the worst cases, where fragility has given way to open violence - people are more than twice as likely to be malnourished, more than three times as likely to be unable to send their children to school, twice as likely to see their children die before age five, and more than twice as likely to lack clean water. In addition to these domestic challenges, the costs of fragility often spill over to neighboring regions in the form of trafficking in illegal goods and persons, corruption, and violence. 'Societal Dynamics and Fragility' frames a fresh approach to these challenges, by focusing on improving relationships across groups and institutions in society. Drawing on case studies from Yemen, Central African Republic, Haiti, Liberia and Aceh (Indonesia), the book provides a framework for understanding and healing the social divides that often get in the way of building capable institutions and exiting from fragility.