Name: How to live with economic doomsaying
Uploaded: 2024-03-28T14:56:10Z
Duration: 10 min 2 s
Description: Economic crises can and do happen. But for every true crisis, there are many false alarms, says economist Philipp Carlsson-Szlezak. He explains how to live with the media's pervasive economic doomsaying, why we should stop treating financial forecasts like a precise science — and what we should embrace instead.

Philipp Carlsson-Szlezak: How to live with economic doomsaying

How to live with economic doomsaying

Economic crises can and do happen. But for every true crisis, there are many false alarms, says economist Philipp Carlsson-Szlezak. He explains how to live with the media's pervasive economic doomsaying, why we should stop treating financial forecasts like a precise science — and what we should embrace instead.

Public conversations about the economy often exaggerate crisis, but many predicted catastrophes simply never materialize. In 2020, headlines warned of a downturn worse than 2008 or even the Great Depression, yet recovery was rapid and strong. Overreliance on economic models and constant negative news cycles leave businesses and individuals vulnerable to unnecessary fear and costly decisions. Embracing rational optimism and accepting uncertainty helps people navigate real risks without falling for false alarms.