White and Black Swan Events English for Economists | Economic News and English Expressions

A swan is a
beautiful bird that swims in the water. White swans are very common, but you
don’t believe a black swan exists until you see one for yourself. The term Black
Swan was popularized by Nassim Nicholas Taleb, a renowned professor,
economist, and writer. Taleb initially introduced this concept to describe
highly improbable events with massive implications in financial markets and
later broadened its application to encompass historical, scientific, and other
significant occurrences. Nobody sees the coming, and when they do, people say
‘oh, why didn’t we see this coming?’