In the Midst of Chaos, there is Opportunity ~ Sun Tzu
At the time of writing this entry, there is much unrest and uncertainty in the world due to the COVID-19 pandemic. The reports are putting global deaths at currently over 120,000, a figure which is grimly rising by the day. Though the immediate death tole is tragic, there is the potential for even longer term misery; with the IMF forecasting global economic activity contracting 3 to 11%, rivalling the Great Depression post-1929 (link). If this prediction were to come true and the economic policies post, are the same as those pre-pandemic, the suffering could be arguably greater than that brought directly by the virus.
Taking an optimistic view, there is an argument that this pandemic may be the catalyst for a new economic revolution with the implementation of new ideas and polices fitter for the 21st century, than those which can trace their evolution back to the industrial revolution. Fresh economic ideas that look to solve some of the biggest issues facing society today: climate change, inequality, lack of opportunity and the growing mental health crisis.
The opportunity in chaos quote I believe is apt for the situation the world is currently in, that is why I have decided to start this blog*. A mission statement, I believe, is too grandiose a term to apply to a blog. However, I do believe in having a plan. The plan for bounded rationality is to focus on economics and business, in particular how things are changing (or not), post-COVID-19. Here is hoping the future contents of this blog are more positive than negative.
* That and having spare time to fill due to the government imposed lockdown.
Bounded Rationality 