“The last global crisis didn’t change the world. But this one could” William Davies
It was always going to come to this. Whether it was a pandemic triggering a shutdown, a climate emergency bursting the carbon bubble, a populist backlash against inequality, wars over water or countless other possible triggers, this moment has long been inevitable.
COVID-19 is just like a match thrown on a tinder dry forest floor on a hot windy day and starting a wildfire. The match isn’t the key – it’s where it lands.
While of course a pandemic would always be an enormous economic and health challenge, the context in which it lands is the key to our ability to manage it. Thus, we now see our economic system’s inherent instabilities clearly exposed. The house of cards is collapsing.
Won’t this all pass? We’ll find a cure, develop a vaccine, boost the economy and then everything will get back to normal. It’ll take a few years, but we’ll get back on track. Right?
Wrong, very wrong.
We are at the beginning of a process with an uncertain end. It could be a major recession, a full-scale depression, or a slide into systemic collapse. Or it could be a turning point – where we recover and build a very different kind of economy, one defined by sustainability and resilience with a focus on improving human well-being. This range of outcomes is uncertain. What is certain is that we are not going back to how things were […]