For years, I’ve championed the power of scenario thinking as a way to “rehearse” the future. In my work, I’ve seen how structured, forward-looking narratives help us move beyond guesswork or simple extrapolation, allowing us to imagine multiple possibilities and develop more resilient strategies. This approach is particularly vital when it comes to the challenges of longevity and the strain on social safety nets like Social Security – areas where demographic shifts, policy decisions, and economic factors converge in ways that few people anticipate. By rehearsing tomorrow’s potential realities today, we equip ourselves with the foresight to adapt, innovate, and thrive no matter which scenario becomes our new normal.
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The Deficit Myth
I wrapped up another great book. This one focused on government deficits as viewed through the lens of Modern Monetary Theory. Author Stephanie Kelton addresses the topic in her recent book titled The Deficit Myth. In this best seller, Ms. Kelton – Professor of Economics and Public Policy at Stony Brook University – explores the role of currency issuers (U.S., Japan, U.K., Australia, etc.) versus currency users. From the book:
“The distinction between currency users and the currency issuer lies at the heart of Modern Monetary Theory. And as we will see in the pages ahead, it has profound implications for some of the most important policy debates of our time, such as health care, climate change, Social Security, international trade, and inequality.”
Reimagining the Future 