Can the word ‘polycrisis’ help us make sense of the post-COVID world? Historian Adam Tooze has his say
World Economic Forum
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Polycrisis - A New Approach to Reducing Complexity and Complexity
The Polycrisis concept is that it's registering the fact that certain sorts of familiar reduction are no longer compelling. If you actually want to understand what the backdrop to the inflation of 2021-2022 really was, if you wanted the destabilization of the world economy we've been struggling with, you have to wind the clock back to 2020. The instability of the global financial system, the serious risks that harbored within it as we raise interest rates and those radiate outwards from the core to the weaker members,. And then you superimpose on top of that something which doesn't in any simple sense reduce to the logic of capitalism, which is the mad dog aggression of Putin's regime
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