The Butterfly Defect addresses the widening gap between the new systemic risks generated by globalization and their effective management. It shows how the dynamics of turbo-charged globalization has the potential and power to destabilize our societies. Drawing on the latest insights from a wide variety of disciplines, Ian Goldin and Mike Mariathasan provide practical guidance for how governments, businesses, and individuals can better manage globalization and risk.
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With rapid globalization, the world is more deeply interconnected than ever before. While this has its advantages, it also brings with it systemic risks that are only just being identified and understood. Rapid urbanization, together with technological leaps, such as the Internet, mean that we are now physically and virtually closer than ever in…
Goldin and Mariathasan demonstrate that systemic risk issues are now endemic everywhere—in supply chains, pandemics, infrastructure, ecology and climate change, economics, and politics. Unless we address these concerns, they will lead to greater protectionism, xenophobia, nationalism, and, inevitably, deglobalization, rising inequality, conflict, and slower growth.
The Butterfly Defect shows that mitigating uncertainty and risk in an interconnected world is an essential task for our future.