In the coming decades, the world faces megathreats that would imperil not just our global economy and financial assets, but also put at risk peace and prosperity.
In our partisan political world, where we kick the can down the road – we are biased towards short-term planning and leave thinking about the future to others – these threats are something different. Left to grow, they will make life worse for people across the world. It is essential for the public good that these threats are not ignored by our leaders, but are acknowledged, taken seriously and countered – fast.
Some of these megathreats are economic: the spectre of inflation and recession at the same time; the mother-of-all debt crises as private and public debt ratios hit historic highs; an ageing population that will crash our pension and healthcare systems, to name just three. In the years before the 2008 financial crisis, I correctly predicted that our virulent…
