If all of the elements in a large system are loosely coupled to one another, then any one element can adjust to and modify a local a local unique contingency without affecting the whole system. These local adaptations can be swift, relatively economical, and substantial.
Karl E. WeickRelated topics
contingency element large substantial swift uniqueRelated quotes
A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.
Alan Greenspan
The American people are doing their job today. They should be given a chance to show whether they wish to preserve the principles of individual and local responsibility and mutual self-help before they embark on what I believe to be a disastrous system. I feel sure they will succeed if given the opportunity.
Herbert Hoover
There is in even the most selfish passion a large element of self-abnegation. It is startling to realize that what we call extreme self-seeking is actually self-renunciation. The miser, health addict, glory chaser and their like are not far behind the selfless in the exercise of self-sacrifice.
Eric Hoffer