Death & Taxes

I'm thinking of this phrase in relation to the architecture of knowledge or information - how it is or "should" be structured. The reference here is in relation to money.

During the 1990's the large investment banks entered into the securities market. Securitazation was devised to reduce risk.

Following Hedge Funds which were developed after Nixon left the Bretton Woods system as an way to hedge the risks associated with volatile markets and exchange rates, and advances in mathematics of risk (see Black-Scholes model). The cumulative aim of these innovations was to manage risk in increasingly volatile markets (see Susan Strange and The Social Life of Money).

The reason for the title Death & Taxes is the thought that Market Efficiency based on Fungibility & Liquidity in any domain (money, or in this case risk), always results in a dangerously unstable system. this is due to the fractal or chaotic mathematics of these systems, combined with the ease of contagion once a bug or flaw has been uncovered and exploited.

The reason that death is essential to stable financial systems, is that it is (one of) the only ways to properly manage risk in an evolving (that is learning) information system.

Death of the cell protects against cancer. Pain enables risk taking and learning. Creative Destruction is more than a benefit, it is an essential characteristic of any (knowledge) system that evolves over time.

Death and taxes is a common reference to the famous quotation: - wikipedia

However, Franklin's letter is not the origin of the phrase, which appeared earlier: