Michele Wucker, founder and chief executive officer of Gray Rhino & Company, is an author and policy analyst. She is known for coining the term ‘gray rhino’, a highly probable and impactful threat that is neglected, quite unlike the unpredictable black swan events.
Wucker was a speaker at the CFA Society India’s recent wealth management conference and spoke to Business Standard about how the world can be prepared for gray rhinos like coronaviruses and climate change. She said women on company boards may help reduce risks and that helicopter money could be a useful tool to keep consumption going. Here are edited excerpts from an interview:
In your 2016 book "The Gray Rhino: How to Recognize and Act on the Obvious Dangers We Ignore," you use the image of a gray rhino to represent "a highly probable, high-impact threat". These problems are so obvious we ought to be responding to them, but we aren't. Could you give us examples of such gray rhinos that the world has faced in the past.
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First Published: Mon, September 21 2020. 15:08 IST