Yet these mistakes are relatively minor and reversible.

For those of you who remember your physics, that's a zero angular momentum righting response. But it's like a cat.

Policy mistakes may not always be avoidable.

This allowed the entire state of the world to be swapped out, and allowed low level system crashes which paralyzed the whole system to be debugged.

Existing policies to achieve social cohesion are based on the belief that, if uncorrected, the free play of market forces will lead to wide disparities in income and thus intensify social conflict.

Yet another reason for the correction is that valuations in stock markets are stretched price earnings ratios are now high, while growth in earnings per share is slackening, and will be subject to further negative surprises as growth and inflation remain low.