Things are Different Today: The Challenge of Global Systemic Risks

Earth trajectory

The authors clarify the systemic risk concept using the Global Financial Crisis as an example. They explain how global systems involve micro and macro-dynamics interacting with each other and their environment, leading to stable periods and multiple possible future scenarios. Some of these scenarios may pose catastrophic risks, so that agents must confront systemic risk.


Ortwin Renn, Klaus Lucas, Armin Haas and Carlo Jaeger

Publication Date

15 December 2017


Journal of Risk Research (vol. 22, iss. 4)


Earth trajectory

Resource Type

Academic Journal Article

Systems Addressed


Resource Theme

Catastrophic and Existential Risk • Systemic Risk • Theory Building
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