FINANCIAL TIMES - Everyone knows about "black swans" - extreme, one-off events that are impossible to predict. Think of the assassination of Archduke Franz Ferdinand triggering the first world war or the 1987 stock market crash, which set a record for one-day price slides. But what about the risks that are all around us, hiding in plain sight?

Was anyone really surprised by the Colonial pipeline ransomware attacks? Or the PG&E grid failure? Or Hurricane Katrina, the 2008 great financial crisis, the Fukushima nuclear disaster or the Covid-19 pandemic?