Markus K. Brunnermeier presented his new book, The Resilient Society: Lessons from the pandemic for recovering from the next major shock, at a virtual book release held by the Peterson Institute for International Economics (PIIE). Greg Ip, chief economics commentator of the Wall Street Journal, and Gillian Tett, chair of the editorial board and editor-at-large (US) of the Financial Times, provided commentary. PIIE president Adam S. Posen moderated the Q&A and discussion with the audience.
The COVID-19 pandemic alerted us to a disheartening new reality: In the years ahead, more and more global shocks will disrupt lives and threaten societies. In his new book, Brunnermeier urges us to see that the current framework for managing shocks—by either avoiding them or emphasizing measures to withstand them—will prove inadequate. Instead, Brunnermeier calls for building resilience by investing in mechanisms that acknowledge shocks—and ultimately help societies bounce back.