Nassim Taleb predicts what will break, and what won’t by 2036

From The Economist:

The great top-down nation-state will be only cosmetically alive, weakened by deficits, politicians’ misalignment of interests and the magnification of errors by centralised systems. The pre-modernist robust model of city-states and statelings will prevail, with obsessive fiscal prudence. Currencies might still exist, but, after the disastrous experience of America’s Federal Reserve, they will peg to some currency without a government, such as gold.

Companies that are currently large, debt-laden, listed on an exchange (hence “efficient”) and paying bonuses will be gone. Those that will survive will be the more black swan-resistant—smaller, family-owned, unlisted on exchanges and free of debt. There will be large companies then, but these will be new—and short-lived.

Most of the technologies that are now 25 years old or more will be around; almost all of the younger ones “providing efficiencies” will be gone, either supplanted by competing ones or progressively replaced by the more robust archaic ones. So the car, the plane, the bicycle, the voice-only telephone, the espresso machine and, luckily, the wall-to-wall bookshelf will still be with us.

The world will face severe biological and electronic pandemics, another gift from globalisation.

More here.