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The New Grammar of Power

MADRID – Humanity’s main concerns today are not so much concrete evils as indeterminate threats. We are not worried by visible dangers, but by vague ones that could strike when least expected – and against which we are insufficiently protected.

There are, of course, specific, identifiable dangers, but what worries us most about terrorism, for example, is its unpredictable nature. What is most disturbing about the economy these days is its volatility – in other words, the inability of our institutions to protect us from extreme financial uncertainty.