Jul 21, 2020

Who knew?

From the IMF’s Finance & Development magazine:

For decades, humanity has tried to run economies, indeed whole societies, as though they were complicated machines that just needed tinkering and control of a few key levers to obtain optimum performance. But lately, we have begun to see the error of such thinking. The myopic behavior and narrow focus on efficiency and shareholder financial returns that have dominated political and economic decision-making for decades have yielded somewhat efficient but largely fragile systems stripped of resilience.

Read more here.