(Recorded September 18 2024)
Over past decades, abundance and peace have become the prevailing narratives in modern societies. The reality, as usual, is both more nuanced and more complex. Today, our financial and material wealth exists in parallel with declines in natural and social capital. Similarly, recent decades have caused us to become uber dependent on global ‘just-in-time’ supply chains. The unexpected exploding pager incident in Lebanon earlier this week throws the durability of, and trust in global supply chains in a new light. The benefits we've enjoyed from the 'guns and butter comparative advantage' of globalized trade, might also be at risk of decline - and is suddenly something we shouldn't take for granted.
In today’s Frankly, Nate reflects on 7 key aspects of our socio-economic system which are in decline, with a main focus on the pager implication for globalization. What are the weakest links underpinning the status quo, and how close are they to breaking? Could it be that, just like the stability of our planet and social fabric, trust in global supply chains and globalization be areas of decline too?
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