It is high time to read the warnings of one of the best living historians. According to Harold James more connections –not less- will help prevent an Era of Scarcity /Foreign Affairs, February 2, 2022/.
Does it really matter that we are heading towards a new autarchy or we open a new golden age of globalization? It depends on our vision for the future.
If one seeks for the rerun of the 20th century, with three world wars, bloody revolutions, unprecedented human losses the likely answer is: who cares?
If someone else would like to avoid the rerun of the Thirty Years War of the Seventeenth Century and the huge human sacrifices of the last century, the answer is crystal clear. It says: “Let us rule out the new Era of Scarcity via opening the way for a new chapter of globalization”.
Out of all shortages, the deficiencies of human memories and the shortcomings of our historical knowledge tend to pose the single most dangerous threats to our future.
Governor Matolcsy, MNB, the Central Bank of HungaryRe “The Supply Chain Crisis and the Future of Globalization”