In a recent essay published in The New York Times, Richard Bookstaber, a renowned risk expert, suggests that we may be on the brink of a new era of crisis. Drawing from his extensive experience in risk management, Bookstaber has a track record of identifying and addressing risks in both private and public institutions. As the Chief Risk Officer of Fabric, a platform focused on risk management for wealth managers and individuals, he has played a crucial role in navigating financial crises and working with regulatory bodies.

Bookstaber's current analysis highlights several slow-motion risks that he believes pose significant threats to the economy, societal stability, and even civilization itself. These risks encompass climate change, demographic shifts, deglobalization, and artificial intelligence. Alongside these long-term concerns, Bookstaber also evaluates more immediate challenges that impact the economy and financial markets. With his vast expertise and historical insights, Bookstaber's perspective offers valuable insights into the complex landscape of risks facing our world today.

WEALTHTRACK Episode 1951, broadcast on June 16, 2023

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Bookshelf:

The End of Theory: Financial Crises, the Failure of Economics, and the Sweep of Human Interaction: https://amzn.to/468ggFj

A Demon of Our Own Design: Markets, Hedge Funds, and the Perils of Financial Innovation: https://amzn.to/3JdrfUc