Belmont Club: Regime Change

<![CDATA[One of the reasons regime change is so risky is that the downside risk very often dominates upside potential.  As we know from the Anna Karenina Principle, named from Leo Tolstoy’s novel, to get something right, all key factors must be present, while failure can occur by simply lacking just one. "All happy families are alike; each unhappy family is unhappy in its own way," goes the famous quote. The chances of casting Scrabble tiles on a board and, through chance, forming an actual word are much lower than the odds of getting gibberish.]]>