Stress-testing Economic Resilience
Stress-testing Economic Resilience
This chapter illuminates how the practices underpinning economic and financial resilience have progressed since the early 2000s crash. It draws on a series of vignettes from private- and public-sector organisations. From there, the chapter charts a journey from a conservative approach, which sought continuity and promoted ‘business as usual’ following the crisis, to a situation where complexity is increasingly embraced to cope with an unknown future. Here, while the fundamental aim of incorporating complexity is to be better able to predict the future in order to generate stable conditions in which to better manage risk, there is also a sense that things have changed and that we can never return to the headless days of the early 2000s. The journey of economic resilience reflects the broader evolution of resilience as a universally applied idea.
Keywords: economic resilience, financial resilience, financial crisis, complexity, public-sector organisations, private-sector organisations
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