As for Black Swan events, I had to Google that term. I guess my immediate reaction is that our response should be based on evidence, and not every potential anomaly.
That is not the key concept to ‘Black Swan events’. It comes from the old adage in Europe used for centuries that such-and-such wont ever happen till someone finds a black swan, similar to our time’s use of the phrase ‘when pigs can fly’. Europeans simply assumed that there was no such thing as a black swan simply because they had never seen one. Then one day they did in SE Asia about a century or two ago.
The Toxic Mortgage disaster in 3008 was based entirely on formulas that gave odds of a security losing money as one in a trillion using real estate data that only went back about 30 years, which is not nearly a large or long enough data set to make such absolute predictions about. Now there is no accepted standard way of valuing many financial securities that were based on these flawed evaluation formulas that depended on very large data sets that simply do not exist.
The idea that something cannot happen because it has never happened before or only very rarely before sets one up for a catastrophic failure if a Black Swan event does happen. For example, to say that Ebola cannot do this or that because it simply has not been proven in a lab is to set the public up for a Black Swan event.
Perhaps it adds costs and perhaps it slows some treatments down, but considering the risk if we let people act like there is no such risk makes the cost and delay worth it, IMO.
The focus should be on eliminating the threat where it exists, which is in Africa. I read somewhere that the cost of decontaminating Duncan’s apartment was in excess of $500K. Uhmmmm… you could build an entire small apartment building for that. What a waste of money, which could have been much better spent fighting the disease.
The use of increasing funds to fix a problem has a diminishing rate of return at some point. I don’t know the details about what expenditures can do to improve a situation significantly in a third world country like Liberia, but at some point the impact of each added dollar is diminished more and more. Some things are not fixed by adding more money. Nigeria and Senegal’s quashing of the Ebola epidemics in their countries was a great success. What did they do and how would more money help to implement that in Liberia, Sierre Leon and Guinea?
Meanwhile here in the USA we need to take steps to protect the public whatever it costs. The potential disaster’s cost far exceeds what some contractor can squeeze out of the feds. The fact is that the medical costs of doing almost anything here in the USA is initially going to be excessive until we have more firm data on the transmission of Ebola. IT has only been recently that the CDC admitted that Ebola can be spread via sneezing, but insisted that that kind of transmission requires no more than 3 feet of distance? When I read that the first thing that entered my mind was ‘They cannot know that; this is just more anti-hysteria hysteria.’
I am discouraged by the politics which surrounds this. But I am not surprised. People are afraid. But I think that the risk of an epidemic in the US in minimal. Consider for a moment that 480,000 people die each year in the US due to smoking. How does this compare with the total Ebola fatality count? I hope that number puts recent events into perspective, as to the risk level for the average person.
Yeah, parties now gear up for the next election before its clear who all the winners and losers were in the current election. Everything today is political in one fashion or another.
Kaci (whom I know) was put into a tent in a parking lot with no heat or plumbing. That was the governor of New Jersey’s idea of quarantine. I can understand why she was upset.
Well, that is Governor Christy for you. Just note that he has never been famous for his sensitivity and charm.
I would think that if you are going to force people into quarantine that you would make sure that they were completely comfortable so that they wouldn’t avoid it so much. And make sure they still get their customary wages as well.