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RE: Prevent, Solve or Manage

in Economics11 months ago

Definitely beautiful, this is superbly analysed. In truth I often want to control before the damage is done, but sometimes there are situations that suffices without warning, I'm thinking we have to notice signs of something going wrong before we can prevent however what do we do when we have the opportunity to prevent a situation but we can't see any sign to portray or show that something is amiss?

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It is going to vary considerably from problem to problem. Experience and knowledge can help us detect when something is likely to go wrong soon. However, even if we know something is about to go wrong, it does not mean we can actually stop it happening. We can better prepare ourselves. For example, predicting earthquakes, or volcanic eruptions. Just having more time can be critical.

Wow thanks, so when you say experience you mean like a repeating of a likely Situation that might have occurred before?

Situations are always different but we can often draw on events that are similar. We can also learn from other people who have had similar experiences.

Beautifully explained, thanks a whole lot