In the face of pandemics, climate change, new wars, and geopolitical fragmentation, it is no surprise that terms like “polycrisis” have gained traction. But such moments are nothing new, and history shows that they tend to generate new innovations that can lead to greater prosperity and security.
PRINCETON – The humming world economy and recent stock-market euphoria would seem to be at odds with our crisis-torn, fragmenting world. Seemingly irresolvable conflicts in Gaza and Ukraine have produced deep rifts both internationally and within rich, industrialized countries. Unable to agree on what is in their own national interests, democracies are struggling to formulate coherent foreign policies. In short, political crises are everywhere, except in the economic data.
PRINCETON – The humming world economy and recent stock-market euphoria would seem to be at odds with our crisis-torn, fragmenting world. Seemingly irresolvable conflicts in Gaza and Ukraine have produced deep rifts both internationally and within rich, industrialized countries. Unable to agree on what is in their own national interests, democracies are struggling to formulate coherent foreign policies. In short, political crises are everywhere, except in the economic data.