Monday, April 27, 2009
Has Globalization Made Us More Catastrophe-Prone?
As the world grapples with the worst economic downturn in decades and the possibility of a flu pandemic, a growing body of research suggests the complexity of the modern global economy may make us more vulnerable than ever to catastrophe.
The financial crisis began as turmoil in one small segment of the U.S. mortgage market. Within months it had morphed into a global meltdown affecting almost everyone on earth.
"The speed at which these events unfolded was unprecedented," said the World Economic Forum's 2009 report on global risk, "It has demonstrated just how tightly interconnected globalisation has made the world and its systems..."
I&T: Has Globalization Made Us More Catastrophe-Prone?
The financial crisis began as turmoil in one small segment of the U.S. mortgage market. Within months it had morphed into a global meltdown affecting almost everyone on earth.
"The speed at which these events unfolded was unprecedented," said the World Economic Forum's 2009 report on global risk, "It has demonstrated just how tightly interconnected globalisation has made the world and its systems..."
I&T: Has Globalization Made Us More Catastrophe-Prone?
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