Rebuilding Trust in the Future

January 15, 2024

GENEVA – Increasing division, heightened hostility, and a surge in conflicts are defining the current global landscape.

The perpetual need for crisis management is depleting the crucial human energy that could otherwise be channelled into shaping a more optimistic future.

Despite facing serious crises in the past, the current wave of pessimism is unprecedented. And unlike the past, the power and presence of global media and communications technology today means that every challenge and setback is amplified, further magnifying the sense of doom and gloom.

After an era that lifted a billion people out of poverty and improved living standards everywhere, the anxiety about losing control over what lies ahead is pushing people towards embracing extreme ideologies and the leaders who champion them.

Rebuilding trust in our future is paramount. The question is where to start, given today’s complex circumstances.

Similar to a medical diagnosis, we must first identify and address the root causes of our malaise. We’re at a pivotal moment in history, yet we still cling to outdated solutions.

Complicating matters is the fact that we’re grappling with many issues simultaneously, all of which are deeply interconnected and mutually reinforcing.

There’s no quick fix or one-size-fits-all remedy. It's about addressing all the symptoms in a holistic manner.

First, we no longer have a narrative for how to reinvigorate our economies, which today are burdened by unsustainable levels of debt and inflation, eroding the purchasing power of individuals.

Traditional monetary and fiscal policies have run out of steam, and supply side policies are further exacerbating the debt burden.

What’s crucially needed now is a new