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Extra info for A Framework for Analyzing Yield Curve Trades. Understanding the Yield Curve: Part 6
Authors have explained throughout this chapter the influence of complexity on efficiency and resilience, notably through the prism of scale hierarchic networks. Scale hierarchy does not induce higher costs. On the contrary, it allows sparing money. Let us take the example of a road network. If this road network displays only one scale (one street width) - as in many square grid based cities – the required amount of asphalt to achieve the same access to any location in the city is much higher than in a scale hierarchic grid – inspired from a lung for instance.
Cities worldwide will be confronted to various types of perturbations and chocks in the century to come. Will modernist cities manage to survive the century and hold out against the growing risks linked to climate change? How will their structure evolve and behave if confronted to a rise in prices due to natural resources scarcity? This adaptation ability, or resilience, that is rarely –if not never – taken into account in urban policy processes, should be given the attention it deserves. 6. , & Steemers, K.
Charting the transition away from imported fossil fuels and towards low carbon development, in the long run, has no alternative. The sooner we start, the better off we will be, because there is only one thing more harmful than fossil fuels – fossilized thinking! 7. References  L. Mark W. Leggett, David A. Ball, The implication for climate change and peak fossil fuel of the continuation of the current trend in wind and solar energy production, Energy Policy, Volume 41, February 2012, Pages 610-617, ISSN 0301-4215  Rifkin, J.