Texan black swan

“Un événement improbable aux conséquences d’autant plus désastreuses que l’on ne s’y est pas préparé.”

This weekend, there was a short article in Le Monde about the Harvey storm as a Texan illustration of Taleb’s black swan. An analysis that would imply every extreme event like this “once-in-a-thousand year” event (?) can be called a black swan… “An improbable event with catastrophic consequences, the more because it had not been provisioned”, as the above quote translates. Ironically, there is another article in the same journal, about the catastrophe being “ordinary” and “not unexpected”! While such massive floods are indeed impacting a huge number of people and companies, because the storm happened to pour an unusual amount of rain right on top of Houston, they indeed remain within the predictable and not so improbable in terms of the amount of water deposited in the area and in terms of damages, given the amount and style of construction over flood plains. For instance, Houston is less than 50 feet above sea level, has fairly old drainage and pipe systems, and lacks a zoning code. With mostly one or two-story high buildings rather than higher rises. (Incidentally, I appreciated the juxtaposition of the article with the add for Le Monde des Religions and its picture of a devilesque black goat!)

 

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