Basically, the argument is that some Black Swans can turn into self-perpetuating systems due to feedback loops. These self-referencing systems cause more damage or grow to greater heights than any power law distribution would predict. I concur, but this sounds like Ilya Prigogine's "dissipative structures" theory. It may be a good explanation for what is going on now: a financial black swan has created feedback loops (as in: consumer behavior has shifted, potentially irrevocably...) that will create a dynamic that will sink the legacy global economy. The system may be bifurcating.
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