Forward Thinking Is the world facing a state of permacrisis?
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Sep 25, 2024 Leading economists discuss the baffling state of global crises dubbed 'permacrisis.' They dive into how the New Zealand central bank set an arbitrary 2% inflation target now used worldwide. The conversation also touches on a poignant question from the Queen about the Great Financial Crisis and the consequences of finance overshadowing growth strategies. With a focus on transformative leadership and sustainable recovery, they urge a rethinking of inclusivity and governance in today’s complex economic landscape.
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Michael Spence's Global Path
- Michael Spence's global journey started in Canada and moved through Princeton, Oxford, and Harvard.
- His career evolved with opportunities leading him to live in Europe and become an American citizen.
Mohamed El-Erian's Career Journey
- Mohamed El-Erian's career was shaped by being a diplomat's son and moving frequently.
- His path led from IMF to private sector and now president of Queens’ College, Cambridge.
Understanding Permacrisis
- The world faces repeated crises that unsettle and disorient, creating a state called a permacrisis.
- Permacrisis is not permanent but reflects repeated, colliding crises needing focus and understanding.