Thankfully, in democracies we have elections to release those tensions. And setbacks in democracies are inevitable.
This is misleading. Only on a national level were the polls that close. In the actual swing states that gave Trump the presidency, the polls were off well outside the margin of error.
For instance, in Wisconsin no poll ever showed Trump winning that state, and the closest IIRC showed Client winning by 3%. The average was significantly higher than 3%.
Nassim Taleb also wrote about this https://twitter.com/nntaleb/status/796357059813974017
1. "Volatility" in the model is not random, as Talib asserts -- it happens at predefined points in the time. For example, the accuracy of polls jumps greatly after the conventions complete.
2. Volatility at a previous point in time does NOT mean there must be similar volatility going forward, as Talib implies.
3. Taleb's quickie models that he posted for explanation don't remotely match empirical data.
I respect Taleb, but he seems to have fallen into a trap really smart people often fall into: being right with limited data, but wrong with complete data (in this case, he creates assumptions from his knowledge in other areas like options pricing, which are wrong in this domain).
[1] Skip to 13:30 remaining http://fivethirtyeight.com/features/what-makes-a-tipping-poi...
EDIT: formatting