Systemic Risk
A risk to an entire system such as a financial system or ecosystem. For example, a change in climate that impacts every ecosystem on the planet or a failure of a financial institution that causes others financial institutions to fail that cause other financial institutions to fail in a downward spiral.Systemic Bias
A society, culture or large system that exhibits bias. This essentially means that a large system produces sub-optimal decisions that are analogous to a person who suffers from cognitive biases. For example, a society that invests far more resources in reducing dread risks than regular risks that have greater probability and impact.Systemic Problem
A problem that infects an entire society, culture or system. For example, a society that has a high rate of corruption at the government, institutional, business and community levels such that the economy is fundamentally inefficient.Systemic Disease
A disease that affects multiple major organs or the entire body.Systemic Change
A change that impacts every part of a complex system. For example, a shift from an economy that places few limits on economic bads to one that caps economic bads at some sustainable level might require a large number of changes that impact every government, community and firm.Systemic Shock
An unwelcome change that occurs suddenly and impacts every part of a complex system. For example, a war that disrupts normal economic activity at global scale.Systemic Failure
An extremely high impact failure that affects an entire system. As a hypothetical example, consider a completely automated society that is mostly run from a single operating system. This operating system is updated weekly with updates pushed out to billions of devices in a timely fashion. If a single update were to include a serious bug or malicious code, the results would impact the entire society.Systemic Resilience
A system that is resilient to stresses and shocks. For example, a city with diversified food, water, energy and transportation systems that is resilient to a global supply shock.| Overview: Systemic | ||
Type | ||
Definition | System-wide properties and effects. | |
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