Markus Brunnermeier believes that we must learn to better avoid major crises. (Adena Stevens / Princeton University)
How can a society become more resilient? Economics professor Markus Brunnermeier discussed this issue with other scientists in view of the coming crises. It is crucial, for example in the case of climate change, to avoid points of no return.
The world is facing great revolutions and upheavals linked to crises. That’s what Markus Brunnermeier, professor of economics at Princeton University, says. “We must learn to better avoid these crises,” he demands.
For this, it is necessary to change the social contract and adapt institutions so that they bounce back from shocks, explains Brunnermeier, who has conducted interviews with various scientists and politicians in recent months on the question of knowing. how to better manage global crises in the future. The result is the recently published book “Die Résiliente Gesellschaft”.
Avoid tipping points
When preparing for future crises, it is important to distinguish which risks are temporary if the right measures are taken, “and which are much more dramatic”. This is why certain risks must be taken in order to avoid major crises, explains Brunnermeier,
“It is better to let smaller crises emerge and learn from them to also master larger crises. This makes society as a whole more resilient”, explains the economist, referring to the euro crisis.
In other crises – like climate change – there is a threat of a tipping point that no longer allows for bounce back. Brunnermeier sees new technologies as the “only realistic approach” to promoting a clean economy.