Einstein was Wrong

*/By Rick Nason, PhD, CFA
Partner, RSD Solutions Inc./*

*/Follow us on Twitter/* [1]

Einstein is famous for having said that "Insanity is doing the same thing
over and over again and expecting a different result".  That quote is only
true when things are complicated.  However, most things in business and in
risk are complex.  When things are complex, then the opposite is true and
insanity is doing the same thing over and over again and expecting the same
result. 

If you are new to complexity, or forgot the difference between a complex
system and a complicated one, check out my article in the RMA a few years
back titled "It's Not Complicated".  Here's the link
http://www.rsdsolutions.com/quotit039s-not-complicatedquot-article-rick-nason-rma-journal-march-2011
[2]   

Alternatively you may wish to listen to the associated Tedx talk.  That link
is here.  http://www.youtube.com/watch?v=FQO_wxxinH4 [3]


[1] https://twitter.com/rsdsolutions
[2]
http://www.rsdsolutions.com/quotit039s-not-complicatedquot-article-rick-nason-rma-journal-march-2011
[3] http://www.youtube.com/watch?v=FQO_wxxinH4