Homeland security as a stock market: antifragility as a strategy for homeland security
Egan, John T.
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Since 2002, there have been varying definitions of homeland security. Disagreements about what homeland security is can cause misalignment with budgets and homeland security priorities. The objective of this thesis is to better understand homeland security through the lens of risk and uncertainty using a metaphorical approach comparing homeland security and financial markets. The usefulness of the financial market metaphor is it allows one to conceptualize homeland security as an investors financial portfolio that is subject to market volatility, market sentiment and mood, investing costs, and market booms and busts. This metaphorical approach for understanding homeland security suggests a nontraditional risk-based antifragile strategy. More than being robust or resilient, which resist or absorb volatility, an antifragile strategy benefits from volatility, adapts, and becomes better. To make something antifragile, individuals and organizations should invest more time in identifying things or processes that are negative rather than focus on the positive. Removing things that are negative can uncover hidden options that can better prepare people or organizations for uncertainty and market volatility. This is a strategy that relies less on definitions of homeland security and is a bottom up, rather than a top down, approach to risk management.
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