How economies can thrive in a world of threats
The increasing convergence of economic fields and security risks is more prominent and crucial than ever before. Professor Anthea Roberts has published a recent article on Foreign Affairs drawing insights on the debates about the risk and rewards of economic interdependence. She highlights that “these debates tend to frame the tradeoffs in black-and-white terms: globalization versus deglobalization and interdependence versus decoupling. But such binaries have never been realistic.”
Anthea offers a better way to navigate such complex issues by taking a systemic approach in adding resilience as a third variable to the risk and reward calculations for striking the right balance between them. This new framing is a simple yet powerful mental model that paves way for strategic and agile decision-making. “As a framework for weighing these competing objectives, systemic resilience can help policymakers and business executives think through questions of economic interdependence. It can help them decide when they should take risks in search of rewards and how they should prepare for potentially transformative changes.”
The full article can be accessed here.