The world has been locked down for several weeks now, some countries longer than others. As the lockdown continues, economic consequences mount.
In the past, organizations have pr
acticed agility more than anything else because it is easy to simply pivot and put out small fires as they arise.
But with the world facing a global pandemic, statewide lock downs here in the United States, and a once booming economy now seemingly frozen in time, organizations both large and small are caught in the blaze as those small fires are now an uncontrollable inferno of a great unknown. Continue reading
In his book “Willful Ignorance: The Mismeasurement of Uncertainty”, Herbert I. Weisberg notes: “Medical research is often held up as the paragon of statistical research methodology. Evidence-based medicine, based on randomized clinical trials, can provide proof of the effectiveness and safety of various drugs and other therapies.” (1) He goes on to note that clinical practitioners, who’s judgement is informed by evidence-based data, are finding little in the research that is useful. Continue reading
The risk of a pandemic is not an unknown unknown. In the 2019 World Economic Forum’s Global Risk Report it ranked at a less than average likelihood with a more than average impact. Not a bad assessment but the causes and consequences are difficult to evaluate. There is a barrage of statistical data by country; a lack of knowledge and changing opinions which generates misinformation that is then clouded by journalistic sensationalism in the hunt for yet more breaking news and a spot on the TV. Continue reading
It is undoubtedly and incontrovertibly true that global extreme poverty has declined as capitalism has driven globalization – the trade between and among nations – to increase over time. Certainly, there are arguments to be made that the growth in wealth has also been increasingly concentrated in the hands of fewer people, but the world as a whole has benefited. The charts below from Our World in Data, showing the number of people living in extreme poverty from 1820 to present, clearly demonstrate that the economic benefit of globalization has been as positive as it has been apparent Continue reading