The Myth of the Unprecedented
https://www.project-syndicate.org/commentary/forecasters-policymakers-must-accept-that-crises-are-the-norm-by-stephen-s-roach-2023-12
It is time to stop viewing crises as exceptional events and admit how frequently shocks actually occur. The task of forecasters and policymakers is not to predict the next catastrophe but to sharpen their focus on resilience – what it takes to stay the course with politically mandated policies while minimizing the inevitable dislocations.
https://www.project-syndicate.org/commentary/forecasters-policymakers-must-accept-that-crises-are-the-norm-by-stephen-s-roach-2023-12
It is time to stop viewing crises as exceptional events and admit how frequently shocks actually occur. The task of forecasters and policymakers is not to predict the next catastrophe but to sharpen their focus on resilience – what it takes to stay the course with politically mandated policies while minimizing the inevitable dislocations.