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Wealth Professional | 14 Apr 2014, 08:11 AM Agree 0
Without adequate investment in failing infrastructure, Canada's economy will take a perhaps irreversible hit in the years to come, suggest a TD Economics report.
  • Kevin Cahill | 14 Apr 2014, 07:34 PM Agree 0
    The world is getting both safer and riskier at the same time. Some risks that we’ve lived with for a long time are getting safer because we understand and control them and have learned how to minimize their negative aspects. However, our world is also riskier in other areas. As our world progresses and changes, new , rare and unexpected risks with unintended consequences appear that we’ve never seen or dealt with before.

    Things that aren’t supposed to happen are happening more frequently. They pop up, out of the blue, and shock, surprise, and concern us. Because of their ferocity and devastating effect, coupled with the fact that we didn’t know they were risks in the first place and have no idea how to deal with them, they generate increased anxiety, fear, and even panic.

    We now live in the most rapidly changing period in human history. Change is rampant and accelerating everywhere affecting everyone simultaneously. That increasing rate of change has profound implications, including increased uncertainty and volatility, bigger risks and more opportunities. Humans find rapid change unpleasant and unsettling because it increases our uncertainty, and we tend to resist it.

    With the increasing speed of change, our old traditional ways of dealing with risk passively, reactively, and situational are ineffective and no longer work. To gain control over risks, we must face risks directly, proactively, and comprehensively.
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