“the cybernetic history of the crisis” – Dan Davis (back of mind)
“A real intelligence function, though, is explicitly concentrated on those parts of the environment that aren’t yet relevant to what it’s doing. This capability was weak in the central banks; they were not looking for things which might have upset their policymaking framework. The information was there, but it hadn’t been organised into the decision-making process and didn’t shape the view at the management or operational levels. It remained as ‘other data’ or was attenuated away by simply ignoring it; the ‘information processing system of last resort’”
https://backofmind.substack.com/p/the-cybernetic-history-of-the-crisis