amp34a fresh thorough and practicable book for anyone who wants to sharpen their macroeconomic judgment structured in an easily accessible and insightful manner. It offers an invaluable framework to better understand growth the financial sector and the key trends shaping the global economy.amp34 Financial TimesAn essential new guide to navigating macroeconomic risk.The shocks and crises of recent yearsamp8212pandemic recession inflation waramp8212have forced executives and investors to recognize that the macroeconomy is now a risk to be actively managed. Yet unreliable forecasting pervasive doomsaying and whipsawing data severely hamper the task of decoding the landscape. Are disruptions transient and ephemeralamp8212or permanent and structural False alarms are costly traps but so are true structural changes that go undetected.How can leaders avoid these macro traps to make better tactical and strategic decisionsIn this perspectiveshifting book BCG Chief Economist Philipp CarlssonSzlezak and Senior Economist Paul Swartz provide a fresh and accessible way to assess macroeconomic risk. Casting doubt on conventional modelbased thinking they demonstrate a more powerful approach to building sound macroeconomic judgment. Using incisive analysis built upon frameworks historical context and structural narrativesamp8212what they call amp34economic eclecticismamp34amp8212the book empowers readers with the durable skills to assess continuously evolving risks in the real economy the financial system and the geopolitical arena.Moreover the authors more nuanced approach reveals that the alltoocommon narratives of economic collapse and decline are often false alarms themselves while the fundamental strengths of our current amp34era of tightnessamp34 become visible.With rational optimism rather than gloom Shocks Crises and False Alarms speaks to the key financial and macroeconomic controversies that define our timesamp8212and provides a compass for navigating the global economy. R