Efficiency or resilience? Democracies can only pick one

Back from my holidays, I penned a little bit of a philosophical opinion piece for Reuters. I talk about the trade-off between efficiency and resiliency, which is, in my view, at the heart of so many economic and poltiical problems we are dealing with today. And guess what? In my opinion, we are typically making the wrong choice right now…

Efficiency or resilience? Democracies can only pick one: Joachim Klement

LONDON, Sept 2 (Reuters) - Efficiency has long been the prime objective of business and government policy. But the pandemic, trade wars and armed conflicts have called this into question, stressing the importance of resilience. Yet this too comes with a cost, and it’s one many elected leaders aren’t eager to pay.

Read the full post here: https://www.reuters.com/commentary/reuters-open-interest/global-markets-efficiency-roicolumn-pix-graphics-2026-09-01/