Forecasting Uncertainty
"Hysteresis". Larry Summers used this word to describe the total breakdown of our financial systems. Summers, the former US Treasury & global economist, said that our economic state of hysteresis is like "a shattered and irreparable crystal glass". The source of these "irreparable" risks is because of our globally interconnected digital economy.
How can we anticipate what's coming when faced with such complex and unpredictable Black Swan events (unexpected radical changes)?
Princeton University have an entire community dedicated to understanding Global Systemic Risks:
For organisations wanting actionable insights into how to respond to these Global Systemic Risks, take a look at:
A year from now you may wish you had started today
Karen Lamb