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How to live with economic doomsaying | Philipp Carlsson-Szlezak

TED Talks Daily

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Embracing Uncertainty and Open-mindedness for Rational Optimism

Success in natural sciences during the pandemic was limited, displaying an accidental race between epidemiologists and economists. Embracing an open-minded approach is crucial, instead of being confined to models. By relinquishing the master model mentality and accepting uncertainty, one can progress towards rational optimism. Rationality involves considering future crises without assuming them, avoiding the tendency to focus solely on extreme risks with a narrow lens. A wider analytical perspective enables a better calibration of risks, offering a more balanced view of potential outcomes.

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