The profound interconnectedness of our economic system, with interdependent financial markets, global supply chains and a shared ecological foundation, means that even local crises can quickly spread to a global level. Trends such as increasing inequality, hyper-complexity of finance, rising digitalisation and overall rapid technological change, together with climate change and other environmental emergencies can amplify the risk of certain shocks as well as enable a system-to-system cascade effect. The global financial crisis first, and the Covid-19 crisis now have proven this is true and made the need for critical choices about the kind of economies we wish to rebuild even more pressing.
Addressing these challenges requires a new economic thinking and new systemic approaches. Drawing on lessons from the current crisis, NAEC (New Approaches to Economic Challenges) and P4NE (Partners for a New Economy) have invited a great array of speakers to discuss – in four compelling sessions – the possible changes in analysis and action needed to tackle planetary emergencies and global-scale systemic challenges. The conference will take place Friday, October 9 starting from 9.30 a.m.