Even though the economic world is accustomed to periodic ups and downs, most seasoned observers place their faith on a certain rhythm to this ebb and flow—namely, that corrective policy action and market forces will inevitably address the causes behind any downturn, paving the way for the next upswing. And life will go on. This cyclicality, almost akin to the seasons of nature, lies at the core of most long-term forecasting and preparation. But what if repeated assaults on the edifice of this cyclicality have brought things to a point where familiar patterns begin to disappear, making the future far more difficult to envisage with any degree of accuracy? A sense of helplessness, albeit self-induced, may begin to take root, shaking the world out of its smug complacency. We are at that crossroads today.
The dominance of the US in global economic affairs, and its obsession with the world of finance, has led us to view all matters through the prism of money. A firm belief that there is practically nothing in the world that cannot be addressed through a monetary or fiscal manoeuvre— tweaking interest rates or printing money. So, for many Americans, the best example of a Black Swan event would be the Lehman Brothers collapse, almost as much as the 9/11 attack. But, as the events of the last two years have shown, and the severe heatwaves of this summer portend, far bigger calamities probably lie in store in the years ahead, to which there is no quick fix known to man.
Diese Geschichte stammt aus der August 21, 2022-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der August 21, 2022-Ausgabe von Business Today India.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
"Inaction is worse than mistakes"
What was the problem you were grappling with?
TEEING OFF WITH TITANS
BUSINESS TODAY GOLF RESUMES ITS STORIED JOURNEY WITH THE 2024-25 SEASON OPENER IN DELHI-NCR. THERE ARE SIX MORE CITIES TO COME
AI FOOT FORWARD
THE WHO'S WHO OF THE AI WORLD GATHERED AT THE TAJ MAHAL PALACE IN MUMBAI TO DELIBERATE THE TRANSFORMATIVE IMPACT OF AI ON INNOVATION, INDUSTRIES, AND EVERYDAY LIFE.
Decolonising the Walls
ART START-UP MAAZI MERCHANT IS ON A MISSION TO BRING INDIA'S FORGOTTEN ART BACK HOME
"I'm bringing Kotak under one narrative, one strategy, one umbrella”
Ashok Vaswani is a global banker who spent most of his career overseas at institutions like Citi Group and Barclays, among others.
CHOOSING THE CHAMPIONS
The insights and methodology behind the BT-KPMG India's Best Banks and NBFCs Survey 2023-24.
'INDIA IS AT AN EXTREMELY SWEET SPOT'
The jury members of the BT-KPMG Survey of India's Best Banks and NBFCs discuss developments in the banking sector and more
FROM CRISIS TO TRIUMPH
Dinesh Kumar Khara stewarded SBI through multiple challenges during his tenure, while ensuring that profits tripled, productivity soared, and the bank consolidated its global standing
AT A CROSSROADS
BANKS ARE FACING CHALLENGES ON BOTH SIDES OF THE BALANCE SHEET-ASSETS AS WELL AS LIABILITIES-WHICH ARE PUTTING PRESSURE ON MARGINS.
EXPANSIVE VISION
Bajaj Finance, an outlier in terms of digitisation, faces stiff competition. But it continues to expand its reach