Against Polycrisis

Economics commentator Noah Smith opposes the term polycrisis, arguing that it overestimates the interconnectivity and severity of contemporary crises. He further posits that there are buffers in place in most systems and that people come together at times of crises, preventing them from escalating or compounding. “I don’t see a polycrisis; I see an emerging polysolution. The looming threats of climate change and authoritarian revanchism, combined with the shocks of Covid and inflation, have stirred both policymakers and businesses to action. And many of those actions will end up addressing multiple crises rather than just one.”