, Columnist
‘Risk’ Is a Scary Word. ‘Uncertainty’ Is Terrifying.
Why does today’s world feel uniquely frightening? A century-old economics treatise provides the best explanation. But take heart. It also offers up a silver lining.
Yikes!
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Economic forecasting, a fool’s game in the best of times, has become increasingly useless.
A global pandemic, supply chain disruptions and extreme weather events have thrown conventional models into disarray. That’s led commentators to warn of growing “risks” to the global economy.