The World Economic Forum conducts an annual Global Risks Perception Survey in which 1,500 experts from academia, business, and politics are asked to rank 34 global risks over two and ten year time horizons. The following graphic displays the most recent results:
Note that the top four risks over the ten-year time horizon are all related to climate change and the environment. It is also interesting that an economic downturn and inflation are of concern for the two-year time period but not for the long term; has the FED lowered inflation without suffering an economic downturn? Appropriately, there is concern about the impact of Artificial Intelligence although many experts believe that enhanced productivity will outweigh the impact of job losses. Finally, given our national political dysfunction, it should come as no surprise that Societal polarization and Misinformation are prominently featured. I do not believe this information warrants any immediate action, but risk management is an integral component of both investing and corporate management which suggests that we remain vigilant.