Economic Affairs

In pursuit of resilience: Disasters, disruptions teach us that efficiency alone is not good enough

Strong social norms - such as voluntary mask-wearing during a pandemic - are self-policing and promote resilience. PHOTO: ST FILE
Gift this subscriber-only story to your friends and family

In our world of the pandemic, climate disasters, broken supply chains, cyber attacks and technological disruption, resilience - the ability to bounce back from adversity - is among the top priorities for any economy or society.

The issue of resilience has surprisingly been somewhat ignored by economists. But recently, Princeton University's Professor Markus Brunnermeier has written a brilliant book on it.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.