When Black Swans multiply

Risk avoidance currently seems to be the patent remedy for all our problems. Central banks are attempting to defend our banking and economic systems from current threats by throwing vast amounts of money in their way, while politicians demonstrate benevolence in attempts to counter todays social ills - to ?sweep them under the carpet? as one might say. A general desire to ?keep going as normal? certainly appears prevalent. Without risk, however, there can be no progress, no learning, no insight. Markus Krall, bestselling author and one of the most insightful connoisseurs of the risk landscape, shows how currently unfolding distortions in business and politics, rapid technological development and geostrategic mistakes could lead us to catastrophe. He also shows where and how we can intervene to put our society on a new and better footing.

Markus Krall, born in 1962, studied at the University of Freiburg, received his doctorate as a Monbusho scholar of the Japanese government in Freiburg and at the Imperial University of Nagoya / Japan. He holds a doctorate in economics, is a consultant, manager, author and sought-after speaker and winner of the Roland Baader Award 2020. For almost 30 years he worked in various roles as a top manager in the financial and consulting industry, including on the board staff of Allianz, as a partner and director at Oliver Wyman, senior partner and head of the risk management practice at McKinsey & Company and board member for risk management at Converium Rückversicherung. He is currently CEO of Degussa. As a consultant, his main focus has been on risk management for banks, insurance companies, regulators, governments and also multinational organizations. For the vast majority of banks in German-speaking Europe, he was responsible for the development of the credit risk systems currently in use. From this deep knowledge of the financial system and its players, he sees the dangers to the stability of our financial and economic system posed by derailed monetary policy and anti-market economic policy. Translated with www.DeepL.com/Translator (free version)