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Or look at the World Economic Forum’s similar chart:

Global risks landscape: an interconnections map@wef pic.twitter.com/PMwjMCDmbN

— Chris Konrad (@cjkonrad) January 17, 2023

Or, if you prefer sci-fi narratives as a means to better comprehension, watch this clip from Amazon Prime’s The Peripheral, which talks about a cluster of events called “The Jackpot” in a way that sounds awfully similar to a polycrisis.

How real is the polycrisis?

Take a second now and consider all the shocks that have buffeted you, dear reader, in the past few years alone.

There is the largest land war in Europe in recent memory, a devastating pandemic, the surge in refugee flows, high inflation, fragile global governance, and the leading democracies turning inward as they face populist challenges at home. It seems easy — and enervating — to believe that the polycrisis is upon us.

The thing about the previous paragraph is that it does not just describe the current moment; it also captures the global situation almost exactly a century ago. The First World War devastated Europe. The war also helped to facilitate the spread of the influenza pandemic through troop movements and information censorship. The costs of both the war and the pandemic badly weakened the postwar order, leading to spikes in hyperinflation, illiberal ideologies, and democracies that turned inward. All of that transpired during the start of the Roaring ’20s; the world turned much darker a decade later.

So maybe Niall Ferguson has a point; what some are calling a polycrisis could just be history rhyming with itself.

Those warning about a polycrisis vigorously dispute this. They argue that the growing synchronization and interconnectivity of systemic risks increases the chance of a polycrisis. As one recent New York Times op-ed co-authored by Homer-Dixon explained, “complex and largely unrecognized causal links among the world’s economic, social and ecological systems may be causing many risks to go critical at nearly the same time.”

These concerns are borderline Malthusian. Thomas Malthus famously warned that the human population would exponentially outstrip mankind’s capacity to grow food. This proved to be spectacularly wrong, but the power of Malthusian logic remains. Neo-Malthusians are less concerned about food specifically and more about human civilization outstripping other necessary resources.

In the same op-ed, Homer-Dixon and co-author Johan Rockström worry that “the magnitude of humanity’s resource consumption and pollution output is weakening the resilience of natural systems.” The WEF report ranked a “cost-of-living crisis” as the most severe global risk over the next two years.

Concerns about climate change should not be minimized. At the same time, there are ways in which the notion of a polycrisis obfuscates more than it reveals.

Looking at the charts above makes it seem as though little can be done to prevent a polycrisis. Indeed, the Cascade Institute paper is written as though the polycrisis has already happened.

This sort of framing is bound to generate a sense of helplessness in the face of overwhelming complexity and crisis. In The Rhetoric of Reaction, Albert Hirschman warned about the “futility thesis” — the rejection of preventive action due to a fatalistic belief that it is simply too late.

It is far from obvious that there will be a polycrisis (let alone that we’re already in one). As the economist Noah Smith pointed out in his rejoinder to Tooze, its proponents underestimate how much “the global economy and political system are full of mechanisms that push back against shocks.” Indeed, for all the concerns that have been voiced over the past two years about global supply chain stresses and rampant inflation, both of those trends appear to have reversed themselves quite nicely. Complaints about scarce container ships and computer chips that dominated 2021 have turned into stories about gluts in both markets.

Cargo ships seen from overhead. CFOTO/Future Publishing via Getty Images
Cargo ships are loaded with containers as they prepare to dock at the container terminal in Lianyungang, East China’s Jiangsu province, on January 25, 2023.

On the sociopolitical side of the ledger, it is noteworthy that as societies emerge from the pandemic, indicators of social dysfunction might start to subside. Political populism has actually been trending downward for the past year or so. Even skeptics of democracy have noticed that autocracies have been facing greater challenges as of late than democracies.

Malthusian arguments rest on producers being unable to keep pace with growing demand, and modern history suggests that the Malthusian logic has been proven wrong time and again. Homer-Dixon in particular has been a strong proponent of neo-Malthusian arguments, positing for decades that resource scarcity would lead to greater international violence. So far, the scholarly research testing his claim has found little empirical support for the hypothesis.

Predicting the unpredictable

The deeper flaw in the polycrisis logic is the presumption that one systemic crisis will inexorably lead to negative feedback effects that cause other systems to tip into crisis.

If this assumption does not hold, then the whole logic of a single polycrisis falls apart. To their credit, the Cascade Institute authors acknowledge that this might not happen, but they posit: “it seems more likely that causal interactions between systemic crises will worsen, rather than diminish, the overall emergent impacts.”

At first glance, this seems like a plausible assumption to make. Remember, however, that the proponents of a polycrisis also assert that the systems under stress are highly complex, leading to unpredictable cause-and-effect relationships. If that is true, then presuming that one systemic crisis would automatically exacerbate stresses in other systems seems premature at best and skewed at worst.

Indeed, over the last year there have been at least two examples of one systemic crisis actually lessening stress on another system.

China’s increasingly centralized autocracy generated a socioeconomic disaster in the form of “zero Covid” lockdowns. Xi Jinping kept that policy in place long after it made any sense, accidentally throttling China’s economy. The timing of China’s lockdown was fortuitous, however, as stagnant Chinese demand helped prevent an inflationary spiral from getting any worse. China’s exit from zero-Covid will likely also be countercyclical, jump-starting economic growth at a time when other regions tip into recession.

Another weird, fortuitous interaction has been the one between climate change and Russia’s invasion of Ukraine. As Europe aided Ukraine and resisted Russia’s blatant, illegal actions, Russia retaliated by cutting off energy exports. Many were concerned that Russia’s counter-sanctions would make this winter extremely hard and expensive for Europe.

Climate change may have provided a weird geopolitical assist to Europe, however. The warming climate is likely connected to Europe’s extremely temperate fall and winter. That, in turn, has required less electricity for heating, leaving the continent with plenty of energy reserves to last the winter. Russia’s ability to wreak havoc on the European economy has been circumscribed.

None of this is to say that systemic crises cannot exacerbate each other. Just because a polycrisis has not happened yet does not mean one is not on the horizon. Just as one buys insurance to guard against low-probability, high-impact outcomes, policymakers and elements of civil society need to guard against worst-case scenarios.

As a term of art, however, “polycrisis” distracts more than it adds. It mostly seems like a device to make people care about the Really Bad Things that climate change can do, without turning people off by warning them yet again about the hazards of climate change.

Daniel W. Drezner is a professor of international politics at the Fletcher School and is the author of Drezner’s World.

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