Tag Archives: Cascading failure

Catastrophic Failure in Close-Coupled Open Systems Avoiding Counterproductive Feedback Loops

Feedback controls: In systems theory, the whole is seldom greater than the sum of the parts.  The global economy, like any open system can rapidly deteriorate if driven by uncontrolled feedback loops.  In theory, federal banks work like your home thermostat – the system becomes too hot, start the A/C… Read more »