Terence Corcoran: Never let a ‘polycrisis’ go to waste — via fpcomment
impacts and ambitions in an ever-shrinking window for transition to a 1.5°C world. Together, these are converging to shape a unique, uncertain and turbulent decade to come.”Article content
My apologies for subjecting readers to that long quotation. But there’s more. “While ongoing shocks unfold, the world stands at a crossroads. As we enter a low-growth, low-investment and low-co-operation era, the actions that we take today will dictate our future risk landscape. We must ensure that addressing current crises does not detract from the longer-term view.
But fear not the polycrisis, because the WEF research crew produced an uplifting solution in the final words of the report. “There must be a better balance between national preparedness and global co-operation. We need to act together, to shape a pathway out of cascading crises and build collective preparedness to the next global shock, whatever form it might take. Leaders must embrace complexity and act on a balanced vision to create a stronger, prosperous shared future.
I recently conducted a deep analysis of this call for action and concluded the WEF believes the polycrisis can be resolved by galvanizing world power elites to adopt a collective balanced vision of shared preparedness on a pathway to a prosperous future.Article content This collective preparedness pathway is a little on the rocky side of economic theory. As outlined in detail over the years by Klaus Schwab, the
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