Masters in Business Economic Risks Versus Media Alarmism with Philipp Carlsson-Szlezak
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Mar 7, 2025 In this insightful discussion, Philipp Carlsson-Szlezak, Global Chief Economist at Boston Consulting Group, shares his expertise on macroeconomic risks. He critiques traditional economic models and emphasizes the need for more robust assessment tools, especially in unpredictable situations. The conversation delves into the impact of media narratives on economic perception and the importance of asking the right questions. Additionally, Philipp explores how AI is reshaping productivity and offers insights into navigating economic uncertainty.
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Model-Based Economics
- Mainstream economics relies too heavily on models and should adopt a more eclectic approach.
- Economics should incorporate insights from various fields like history, political theory, and finance.
Poor Forecasting
- Economists have a poor track record of forecasting, especially regarding recessions.
- Numerous examples demonstrate their overreliance on models that fail to predict dynamic changes.
Executive Angst
- Executives are constantly bombarded with doomsday predictions, especially about imminent recessions.
- Carlsson-Szlezak helps them understand true macroeconomic risk by explaining underlying mechanics.
