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While a ‘black swan’ is a term for an event that no one imagined or anticipated, COVID-19 and approaching climate change risk is a Gray Rhino, something that people foresaw, but may or may not have planned for.
As the availability of vaccines increases and the existential threat of COVID-19 reduces, the omnipresent crisis of climate change is top of mind for many as we think about a sustainable financial recovery. However, building back better not only applies to our infrastructure and businesses, but our practices and rules around climate change risk management.
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Mass surprise was an early social symptom of Covid-19 around the world. From government announcements to work emails, words such as unprecedented , uncertain and unforeseen became the norm, signs of collective bafflement and fear.
While shock was universal, how countries responded differed widely. The world had seen pandemics before. In 2015 Bill Gates gave a popular TED Talk on the impending danger of one. Many countries had emergency plans waiting in the wings. Some quickly swung into action, while others dithered. The UAE s agile governance allowed it to secure necessities from food security to mass testing. For the nations caught off guard, many of them developed, citizens wondered why no methodical response was forthcoming.
The current pandemic has caused the biggest government splurge in living history, other than the financial spending during World War II. This month’s IMF World Economic Outlook paints a rosier picture in the short term, and even urged continued easy monetary policy, but if you read the report carefully, the growing debt numbers are truly worrying. It is the long-term structural debt problem that no one is facing up to squarely.
Debt is always incurred when someone spends more than income. The global debt problem arose from the international monetary system’s structural design, based on the US dollar. In the 1970s, Yale University professor Robert Triffin identified what became known as the Triffin dilemma, since the reserve currency issuer (namely, the US) must run a monetary policy to supply dollars to meet the rest of the world’s demand for a liquid international currency.
FlexJobs to Host “Risk and the Future of Work” Webinar on How to Thrive Amid Uncertainty
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Expert panelists in risk management, the future of work, and the intersection of work and life to discuss how risk relationships shape personal and professional lives BOULDER, Colo. (PRWEB) March 16, 2021 Today FlexJobs announced it will host a live webinar, “Risk and the Future of Work: How to Thrive Amid Uncertainty” on Thursday, April 8 at 2pm ET. The hour-long webinar will feature three expert speakers, Sara Sutton, CEO and Founder of FlexJobs and Remote.co, Michele Wucker, author of the new book You Are What You Risk: The New Art and Science of Navigating an Uncertain World and CEO of Gray Rhino & Company, and Nicole Vasquez, Co-Founder & Chief Community Officer at Deskpass, to discuss the future of work and how to manage risk and navigate uncertainty for a more productive and successful life.