Beyond Economic Predictions with Todd Hirsch

Leadership NOW with Dan Pontefract

Todd Hirsch is the "modern economist." In this episode of "Leadership NOW," he delves into the challenges of economic forecasting in today's unpredictable global environment. He discusses the limitations of traditional methods in accurately predicting economic trends amidst frequent, unforeseen 'black swan' events. Todd advocates for a shift from prediction to preparation, emphasizing the importance of adaptability and readiness for various potential outcomes. Our conversation further explores the impact of geopolitical events and environmental crises on the economy. Todd highlights how incidents like Russia's invasion of Ukraine and severe weather events directly affect economic conditions worldwide. He also addresses the erosion of public trust in economic expertise, noting the growing skepticism towards expert advice, especially during periods of economic uncertainty. Throughout the dialogue, Todd's insights illuminate the interconnected nature of global events and economics, stressing the need for leaders to be cognizant of a wide range of external factors that can abruptly shift economic landscapes. For more than 25 years, Todd worked as an economist for such renowned institutes as ATB Financial, the Canadian Pacific Railway, the Canada West Foundation, and the Bank of Canada. Having had a front-row seat to the key issues and trends impacting and transforming our world, Hirsch delivers dynamic, clear-eyed talks on the economy, adaptability, and creativity. Hirsch served as the vice president and chief economist for ATB Financial for over 15 years. He also previously taught economics at the University of Calgary and for the executive education program at the University of Alberta. In recognition of his work, Hirsch has received the Queen Elizabeth II Platinum (2022) and Diamond (2012) Jubilee Medals, the University of Alberta’s Alumni Honour Award, and an honorary degree from Mount Royal University. The author of four books, Hirsch’s latest, Spiders in COVID Space: Adapting During and After the Pandemic, captures the inspiring and compelling stories of businesses and not-for-profits that reinvented themselves during the pandemic. He is currently the Director of the Energy Transition Centre at Innovate Calgary. Visit him at www.toddhirsch.com