Too little and too late ?
Do you think we have reacted too little & too late re the #covid19
When Ebola happened I approached many health authorities with a contact tracking solution. The general response was we are too busy fighting a crisis to look and then when the crisis passed people moved on. While we may be ready for WW3 we are clearly unprepared for pandemics which all have similar issues.
Premortems prepare you for events especially for events with high consequences.
We do this because during periods of high stress we cannot handle new things so being prepared for the worst is essential.
Black Swan events happen more often than we think.
Our minds think in linear terms (1,2,3,4) but financial markets, contagion and pandemics are exponential as they unfold and so the earlier you act the better.
We know there are many things wrong with the economy, debt, student loans etc and the recent fall in the markets expose these weaknesses and we can see that the emperor has no clothes now.
Monetary policies are ineffective and fiscal policies take time.
Financial contagion and pandemics need things done in advance, a quick response is only possible if you are prepared.
Governments by their nature are bureaucracy & unprepared.
Your thoughts ?