ABSTRACT
This chapter deals with the local and global fragility and their interrelationship. It discusses the fragility of the world and the universe, the accounting and finance systems, and engineering. The chapter considers the implications of this for organisations, government, international institutions and the individual. It defines anti-fragility to be measures from the rate of decline of fragility due to exposure to stress. Whilst the denominator of this rate of decline can be taken as stress level, it is more useful to take it as time in order establish easy to measure metrics which can be used to monitor the anti-fragility of the organisation. Using an analogy with velocity, it introduces a number of new useful terms and discusses their relationship: pointwise robustness, ongoing robustness, declining robustness and the anti-fragility acceleration rate. The chapter also discusses how to define an overall organisational fragility, robustness and anti-fragility profile, and the establishment of an organisational summary fragility metric.
