Forward Thinking
Is the world facing a state of permacrisis?
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.
49:24
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Quick takeaways
- The concept of 'Permacrisis' reflects ongoing geopolitical, economic, and environmental challenges that require proactive leadership and innovative strategies for effective navigation.
- Global cooperation through reformed multilateral institutions is critical to managing international trade and preventing fragmentation in an increasingly nationalistic world.
Deep dives
The Concept of Permacrisis
The term 'Permacrisis' is introduced to explain the persistent and recurring nature of crises in today's global landscape, highlighting the accumulation of geopolitical tensions, economic instabilities, and environmental challenges. The authors emphasize that this is not a permanent state but rather a reflection of ongoing structural changes that can be addressed through proactive management and leadership. Their discussions stemmed from conversations during the pandemic, where they sought to understand these complexities and how individuals can navigate them. In the book, they propose that recognizing the dynamics of a perma crisis is essential to facilitate better decision-making and foster resilience in an unstable environment.
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