What Is Permacrisis?
Permacrisis is the term used to describe an extended period of instability or insecurity. In the simplest of terms, it is an extended period of time when a country or community is at risk of losing stability. This can happen due to a series of events or an event that is caused by a single disaster.
To understand the concept of permacrisis, you must first understand what a crisis is. It is a situation where there is a temporary difficulty and it’s usually accompanied by stress. When this happens, people react by switching between four basic responses. The most obvious is a panic. Another common response is to adopt a strategy of self-preservation and avoidance.
However, there is more to a crisis than that. There are many types of crises, ranging from economic to political to cultural to medical. For example, a foreign policy crisis may lead to an aggressive response from the other side of the world. But a crisis also signifies an opportunity to make progress.
According to Collins English Dictionary, “Permacrisis” was the word of the year for 2022. Although this term is somewhat less elegant than a permanent crisis, it does the job for most people. Some are even contemplating selling up to move on to the next challenge.
The word is derived from the Greek “perma, meaning stable and “crisis” meaning difficult situation. So, in essence, permacrisis is a type of contemporary inversion of Karl Marx’s aforementioned idea.
This concept is more complicated than it sounds though. One can argue there are many kinds of crises, including those that are purely economic and those that are purely cultural and intellectual. Interestingly, modern research is also driven by crises. And, in many ways, the world is currently living through its most defining one.
One of the major factors causing the increase in demand is localized change. As the world becomes more complex, the old operating model of supply and demand is less effective and must be replaced by a more efficient model. With this in mind, we can see how the world has become more volatile.
What we are also seeing is an increase in global polycrisis. These are a number of interconnected crises that are wreaking havoc on economies all over the world. They include, but are not limited to, cyber threats, a deteriorating energy shortage, and inflation. Combined, these crises will have far reaching effects on the world.
To get a clear picture of what is happening, we must look at the world as a whole. We need to be nimble enough to handle this complexity and ensure that we do not succumb to its debilitating effect on our society and economy. Moreover, we must learn to recognize the true value of what we have and not to get sucked into its vortex of entropy. By understanding these three axioms, we can improve our chances of being a successful leader in the long run.