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Shane Szarkowski Editor-in-Chief
Building economic resilience in a new economy
At the curtain raiser for this year’s World Bank and IMF Spring Meetings, IMF Managing Director Kristalina Georgieva issued a stark warning. The resilience national economies have been showing in the face of global disruption she had lauded last autumn is being severely tested. The most glaring issue she highlighted was trade policy uncertainty, which by the indicators the IMF tracks has broken the chart.
That’s not all of course. Trade and logistics routes are facing disruption from actual and potential conflict as well as policy uncertainty. Populations in different countries are changing at dramatically different rates, with populations in most richer economies aging rapidly while in much of the Global South the opposite is occurring, with attendant pressures on labor markets and public services. Finally, rapidly shifting migration policy globally alongside increases of involuntary migration are both likely to have spillover effects.
All of this in the face of growing public debt around the world and uncertainty about what job markets will look like this year as new technologies get more widely adopted. Our resilience will be tested, Georgieva warned us, so the trick is to be proactive about it and build additional resilience—not just for the dangers outlined by the IMF, but for the possibility of worse and more in the years to come.
What does economic resilience look like in our shared future, and how can we go about building it? To help us think about this question, Diplomatic Courier asked its expert community for their analysis, touching in particular on themes such as stakeholder participation, multisectoral approaches, models of leadership and success, and digital/financial inclusion.
We hope this digital anthology of commentaries gives you some compelling food for thought as we look to build economic resilience against current and future shocks.
As ever, thank you for reading!
#CiscoCDA #SwissCDA
05 I Building Economic Resilience in a New Economy By: Shane C. Szarkowski
08 I The End of Silonomics Is the Start of Future Economy Resilience By: Rui Duarte
10 I Building Resilient Digital Infrastructure for Shared Prosperity By: Nikos Acuña
12 I Integrate Fragmented Sectors for a Stronger, More Inclusive Economy By: Arthur B. Laffer
14 I Investment Policy to Empower Small Business By: Louisa Tomar
16 I Moving from Digital Capitalism to Techquity By: Dimitrios Salampasis
18 I For an Inclusive Future of Fintech, Boost Financial Literacy Now By: Asha Castleberry-Hernandez
20 I Participation Is Power—and Success— With Digital Economy By: Anastasia Dellaccio
22 I Empower Small Business to Leverage AI for Inclusive Growth By: Tarja Stephens
Photo by Mark C. on Unsplash
The end of silonomics is the start of future economy resilience
By Rui Duarte
Photo by Mark C. on Unsplash.
The era of “silonomics”— isolated, fragmented sectors responding separately to shared crises—is over. Recent events, from pandemics to climate emergencies and the rapid rise of disruptive technologies like AI, have vividly exposed the profound vulnerabilities hidden within these disconnected systems. Incremental solutions, isolated strategies, and reactive policymaking no longer suffice. It’s time for a radical departure from siloed thinking, toward an integrated approach that lays the groundwork for true economic resilience.
Our shared challenges today are interconnected, yet our responses remain stubbornly separate. Each sector— healthcare, technology, infrastructure, finance—works diligently, yet separately, to solve deeply entwined problems. But crises do not respect boundaries. A healthcare emergency quickly becomes an economic disruption, infrastructure deficiencies exacerbate inequality, and technological innovations, without equitable access, can widen divides rather than bridge them.
Building true resilience means intentionally dismantling the barriers that isolate these sectors. It requires replacing silos with collaboration, competition with synergy, and narrow goals with collective purpose. Imagine a future economy where healthcare systems proactively sustain economic productivity; where infrastructure investments explicitly aim to eliminate geographic and digital divides; and where technology serves as a universal equalizer, empowering all rather than a privileged few.
To achieve this vision, leadership itself must transform. True resilience demands leaders who can navigate complexity, champion diversity, and embrace collaborative governance models. Our definitions of success must evolve as well, moving beyond simplistic measures like GDP growth to encompass broader indicators such as equity, digital inclusivity, and genuine societal wellbeing.
TO REACH A FUTURE–READY ECONOMY FEATURING TRUE ECONOMIC RESILIENCE,
WE MUST END THE ERA OF SILONOMICS IN FAVOR OF AN INTEGRATED APPROACH.
Real–world examples demonstrate this vision is both possible and powerful. In Estonia, digital infrastructure has seamlessly integrated government services, healthcare, and economic participation, creating one of the world’s most digitally inclusive societies.
This integrated, human–centric vision isn’t idealistic, it’s a practical and urgent realism. In fact, the cascading crises we currently face demonstrate precisely why fragmented approaches fail. Future resilience requires interconnectedness by design. It’s about creating ecosystems robust enough to absorb shocks, adaptive enough to respond quickly, and inclusive enough to ensure no one is left behind.
The end of silonomics isn’t merely about economic restructuring, it represents our moment of opportunity, a transformative shift toward genuine societal resilience. This is our chance to rewrite economic rules, build bridges across sectors, and forge pathways to sustainable prosperity. The resilient economy of the future is collaborative, integrated and inclusive. The future economy starts with the courage to openly connect, radically collaborate and relentlessly innovate together.
About the author: Rui Duarte is an expert in political economy (LSE) with over a decade of leadership in public policy, global communications, and science PR.
Building resilient digital infrastructure for shared prosperity
By Nikos Acuña
Photo by Julia Sadowska on Unsplash.
The path to economic resilience begins with robust digital infrastructure that empowers individuals to take active part in the digital economy rather than simply extracting value from individuals as consumers or data sources. While today’s $3 trillion data economy concentrates wealth in the hands of tech giants, a reimagined infrastructure could allow society more widely to take part in, and prosper from, a new data economy.
Resilient digital infrastructure must be hybrid by design—combining public foundations with private innovation to harmonize a variety of industries. This means creating open, inclusive digital systems which are provided as public goods such as digital identity, consent management platforms, and data exchange protocols. When governments and enterprises work together to build these core utilities with strong privacy protections and interoperability standards, they create fertile ground for businesses to develop services that actually improve lives.
The decentralization of AI systems represents a crucial component of this resilient architecture. Current AI paradigms face limitations in domains where data and knowledge are distributed across organizations and geographies. By addressing technical challenges around privacy, verifiability, incentives, orchestration, and user experience, we can enable collaboration among entities that previously couldn’t or wouldn’t work together.
For economic prosperity to flow from this infrastructure, we need mechanisms that convert data from an extracted resource into a participatory asset class. Data cooperatives and trust frameworks would allow individuals to pool their data and collectively negotiate its use, transforming millions of people into micro-entrepreneurs whose product is their own data. This would dramatically widen participation in the digital
THE PATH TO ECONOMIC RESILIENCE BEGINS WITH ROBUST DIGITAL INFRASTRUCTURE DESIGNED TO EMPOWER INDIVIDU-
ALS TO BE PART OF THE DIGITAL ECONOMY.
economy, especially among previously marginalized communities.
The economic impact extends beyond individual gains. When data flows more freely (with proper safeguards), smaller firms gain access to insights previously available only to giants. This lowers barriers to entry, fosters competition, and enables innovation from the ground up rather than from the top down. New businesses will emerge specializing in facilitating user–driven data exchange for LLMs, creating jobs and economic activity throughout the intermediary sectors.
This virtuous cycle—where users share data, receive value, build trust, and make more data available—converts what is currently an extractive practice into a regenerative economic model that balances AI profit with social good while ensuring everyone can participate in digital prosperity.
About the author: Nikos Acuña is the Founder and CEO of Aion Labs. He is an interdisciplinary AI researcher, technologist, entrepreneur, author, and artist.
Integrate fragmented sectors for a stronger, more inclusive economy
By Arthur B. Laffer
Photo by Eddie Blair on Unsplash.
In today’s rapidly evolving global economy, integrating fragmented sectors is essential for fostering a stronger, more inclusive economic landscape. The best approach emphasizes the importance of free markets, limited government intervention, and individual responsibility to achieve such integration.
One of the most important steps toward integrating fragmented sectors is to reduce excessive regulation and bureaucratic barriers that hinder collaboration and innovation. By streamlining regulatory frameworks and promoting competition, an environment can be created where businesses are incentivized to work together to maximize value creation.
Public–private partnerships (PPPs) can play a crucial role in leveraging the strengths of both sectors by combining public sector oversight with private sector efficiency and innovation. By fostering PPPs, we can address critical issues such as infrastructure development, education, and healthcare—thereby ensuring that the benefits of economic growth are widely distributed.
The application of the Laffer curve principle can also play a significant role in this integration. By finding the optimal balance between taxation and economic activity, governments can create an environment that encourages investment and innovation across sectors while generating needed government revenues. Excessive regulation and taxation can stifle growth and innovation, while well–calibrated policies can stimulate economic activity and generate sufficient revenue for the provision of public services.
A robust, growing economy is the foundation of social flourishing and a strong fiscal state. Abundant prosperity at once decreases the need for extensive government services and supplies a tax base that can return ample revenue to the government. Moreover, business
BUILDING ECONOMIES THAT ARE RESILIENT TO MODERN DISRUPTIONS AND INCLUSIVE REQUIRES INTEGRAT-
ING SECTORS—A PROCESS BEST APPROACHED THROUGH FREE MARKET, LIMITED
GOVERNMENT REGULATION, AND INDIVIDUAL RESPONSIBILITY
planning is on surest footing when it is clear that levels of taxation and regulation will remain modest across the horizons of time.
In conclusion, integrating fragmented sectors requires a market–driven approach that includes regulatory reform, public–private partnerships, inclusive economic policies, and the application of economic principles like the Laffer curve. By fostering collaboration and innovation through free market mechanisms, we can build a stronger, more inclusive economy that benefits all members of society. The goal is to create an economic environment where every sector, business, and individual has the opportunity to thrive, contributing to a more prosperous and equitable future.
About the author: Arthur B. Laffer, PhD is the founder and chairman of Laffer Associates, an economic research and consulting firm. He is also a recipient of the Presidential Medal of Freedom.
Investment policy to empower small business
By Louisa Tomar
Photo by Bernd Dittrich on Unsplash.
As the global trade landscape evolves—shaped by geopolitical tensions, technological disruption, and shifting economic paradigms—small and medium–sized enterprises (SMEs) are disproportionately exposed to risk. SMEs remain the backbone of employment, market competitiveness, and inclusive growth in both developed and emerging economies but they are more vulnerable to economic turmoil. At this critical moment, investment policy must do more than support SMEs—it must prioritize them as a central pillar of future–ready economies.
A robust SME–focused investment policy removes barriers to entry and growth for smaller, local businesses, while also fostering local innovation and enhancing labor market participation. Forming a successful SME–focused investment policy requires public–private cooperation across economic sectors to expand access to capital, modernized infrastructure, and digital readiness.
Mutual Dependency as a Strategic Incentive
The success of multinational corporations (MNCs) is inextricably linked to the health of the ecosystems in which they operate. The competitiveness of large firms depends on a stable, diverse, and innovative network of suppliers, partners, and customers—many of which are SMEs. This mutual dependency is an untapped strategic advantage. MNCs can be further incentivized—through procurement preferences and innovation grants—to invest in the ecosystems of SMEs across their value chains.
A Call for Business Leadership
Investment policies must reflect this interdependence. Policies that promote information and communications technology infrastructure development, harmonize regulatory standards, raise de
SMES ARE THE BACKBONE OF EMPLOYMENT, MARKET COMPETITIVENESS, AND GROWTH— INVESTMENT POLICY MUST PRIORITIZE THEM AS A CENTRAL PILLAR OF FUTURE–READY ECONOMIES.
minimis thresholds, and fund workforce development directly benefit both small and large enterprises. Business associations can serve as crucial intermediaries—connecting government priorities and SME challenges with private sector innovations, technical capacity, and long–term investment strategies.
An Investment Policy for Shared Prosperity
The private sector and private capital have a strategic opportunity to advance a more resilient and competitive digital economy—one that strengthens democratic governance, cybersecurity, and fair competition. Such public–private investments are not only essential for unlocking the full potential of SMEs as drivers of innovation, job growth, and market demand, but for future–proofing markets for the coming AI economy.
About the author: Louisa Tomar is the Director of the Center for Digital Economy and Governance at the Center for International Private Enterprise (CIPE).
Moving from digital capitalism to techquity
By Dimitrios Salampasis
Photo by Mia Anderson on Unsplash.
Today’s world experiences mounting effects of multiple technological advancements, which are reconfiguring every facet of our lives. This reconfiguration features three major paradoxes. First, a widening global digital access gap—with 2.6 billion people remaining unconnected— leaves a third of the global population without access to the data and digital economy. Second, consumer data is increasingly extracted without the user’s informed consent or any benefit. Third, technological transformative capabilities, and funding, are increasingly concentrated among the largest tech companies. These asymmetries are intrinsic to the current shaping and design of digital capitalism.
Addressing these pathogens is no mere technological undertaking. It is a steep path forward, complicated by philosophical, ethical, societal, and political factors. Active and equal participation in the data and digital economy requires rethinking the foundations: democratic governance, participatory design, global solidarity, and structural equity. More than simply inclusive access, this is about a systemic transformation on how technological innovation is conceptualized, financed, governed, and deployed. Ultimately, it is about the public deliberation of value co–creation and distributed governance narratives of the digital era.
Techquity calls for fairness, transparency, accountability and inclusion in the design, development, deployment and governance of technology. It ensures that all people (especially those historically marginalized or excluded) equally benefit from technological progress. Techquity is all about technology that doesn’t widen economic, racial, and social inequalities. Techquity brings agency to people to shape and benefit from technological innovations in ways that reflect their values, realities, needs, and cultural foundations.
It’s time for global policies to rethink how we develop and use technology. It is critical to reshape the systems behind innovation, not
FOR A BETTER FUTURE ECONOMY, WE NEED TO TAKE ON AN APPROACH PRIVILEGING TECHQUITY.
only the tools. Technology should be easy to use, adaptable, repairable, circular, and democratic. Most of all, it should be fair and inclusive. Technological innovation must be driven by equity—not only by powerful platforms. The decision regarding the pace and direction of technological progress should be a collective endeavor.
Data flows and algorithmic systems must include embedded in their core certain principles that are vital to democracy. These are algorithmic transparency and explainability, accountability, and the guaranteed right of users to data sovereignty—from ownership and portability of their data to choosing who it gets shared with. These participatory governance structures could minimize present and future harm from technological innovations. They could also mitigate emerging forms of intentionally exploitative data extraction strategies so as to prevent the uncontrolled use of data in training algorithms, while ensuring that the economic, societal and political benefits are recognized and shared to those who deserve them.
Technology cannot be allowed to become entrenched as a tool of digital elitism, digital intrusion, and techno–utopianism. Making sure that doesn’t happen requires we turn to the humanities to better understand and reform the systemic, exploitative features of this current digital capitalism toward techquity.
About the author: Dr. Dimitrios Salampasis is the FinTech Capability Lead and Associate Professor of Emerging Technologies and FinTech at the Swinburne University of Technology in Australia.
For an inclusive future of fintech, boost financial literacy now
By Asha Castleberry–Hernandez
Image by Pete Linforth from Pixabay.
As we rethink economic models on how to ensure inclusion in the rapidly–developing digital economy, the international community should reimagine strategic financial policies that entail technological innovation, financial regulatory reform, and futuristic integration of emerging industries like gold reserves. The multi–dimensional approach will need stronger collaborative partnerships between the public and private sectors, including national governments, tech companies, civil society, and international financial institutions.
Boosting financial literacy using innovative technology should be a national mandate that will boost fintech inclusion. Many countries do not mandate financial literacy in educational institutions, but there is a growing appetite for it. In the United States, there is no national mandate, but the state of South Carolina passed a law mandating increased knowledge of personal finance and investments for high schoolers.
If the U.S. decides to mandate financial literacy, Washington should consider using tech apps such as The Wealth Factor—which has been recognized by both Forbes and the White House— which uses games to build financial literacy. Modern fintech literacy applications should consider expanding their scope by educating consumers on more specific features of the global economy. The role of Bretton Woods Institutions should be part of the curriculum. The app should also explain different economic models, such as the difference between mercantilism, socialism, and capitalism. Building awareness will help consumers understand the costs and benefits of critical topics such as trade wars, raising the debt ceiling, the role of digital currencies in the global economy, and the need for modern–day economic interdependence for American small businesses.
ENSURING
INCLUSION
IN THE DIGITAL ECONOMY REQUIRES WE ADOPT A MULTI–SECTOR APPROACH TO BOOSTING FINANCIAL LITERACY
WHILE INTEGRATING INNOVATIVE FINANCIAL PRODUCTS LIKE EARNED WAGE ACCESS PLATFORMS.
Another approach is integrating innovative financial products like earned wage access (EWA). Reinvigorating tech EWA platforms with fair regulation will boost economic inclusion for low–wage workers. EWS platforms will motivate consumers to invest, enable better management of small businesses, and diminish the consideration of using predatory payday lender companies in underserved communities.
About the author: Asha Castleberry-Hernandez is a national security and foreign policy expert, U.S. Army veteran, and former U.S. Congressional candidate.
Participation is power—and success—with digital economy
By Anastasia Dellaccio
Photo by Marc Najera on Unsplash.
As the future of money rapidly approaches through digital finance tools like Bitcoin, stablecoins, and crypto innovations, it is clear we must act promptly and with deliberation to ensure our coming digital economies are resilient and inclusive. These efforts require multi–sectoral collaboration that collectively works to prioritize participation of communities that have traditionally been excluded.
Digital Finance Holds Promise, for Those with Access
Emerging digital finance solutions are reshaping how people store, transfer, grow their savings, and build generational wealth for their families. These new financial tools can be powerfully inclusive, potentially lowering transaction costs, expanding cross–border commerce, and giving individuals ways to interact with digital financial ecosystems outside traditional baking systems. Yet without deliberate, thoughtful design, they risk reinforcing the very inequalities they aim to solve.
Today, nearly 1.4 billion adults remain unbanked—many of them women, rural populations, and those in the informal economy. The technology exists to change this. What we are missing—and must build— is a collective commitment to inclusion.
Multi–Sector Partnerships are Essential
A multi–sectoral approach—uniting governments, tech innovators, financial institutions, civil society, and community leaders—is key to building that collective commitment. Public–private partnerships can accelerate infrastructure development, from mobile internet access to digital ID systems. Regulators can create frameworks that support innovation while safeguarding users. Private sector companies can do more to invest in organizations aiming to improve digital finance access in under–connected communities.
Financial inclusion efforts that succeed do so because they are not top–down— they are built in tandem with, not just for, the communities they serve.
Women Must Be at the Center of the Digital Economy
Women are critical to global economic resilience, yet remain disproportionately excluded from financial systems. Bridging the gender gap in digital finance means more than creating accounts— it requires tools tailored to women’s needs, investment in digital literacy, and policies that remove barriers to access.
When women gain control over their finances, families thrive, businesses grow, and communities become more stable. Inclusion shouldn’t be seen as an outcome of digital finance, it should be seen as the strategy for building a successful digital economy.
Redefining Success for the Future of Money
Our measure of success must evolve beyond profit–centric models and embrace economic systems that prioritize equity, representation, and long–term resilience. That means inviting diverse voices into every stage of design and governance— and measuring success through participation, not just adoption.
The digital economy is being shaped now. The question is: will it be inclusive by design, or exclusionary by default? A multi–sectoral approach ensures we build a future of money that works—for everyone.
About the author: Anastasia Dellaccio is the founder and principal of Forte Strategies, and previously served as Senior Vice President for External Affairs and Engagement at the Export–Import Bank of the United States.
Empower small business to leverage AI for inclusive growth
By Tarja Stephens
Photo by Tim Mossholder on Unsplash.
The AI revolution is transforming business landscapes worldwide, but small businesses are struggling to keep pace. While large corporations leverage AI to drive efficiency and innovation, smaller enterprises struggle with high costs, technical knowledge gaps, and uncertain returns on investment. Without intervention, this digital divide threatens to widen, deepening economic inequality and hampering innovation at the grassroots level.
Bridging this gap requires coordinated action from multiple stakeholders. Governments, technology providers, and policymakers must prioritize developing AI solutions specifically tailored to small business needs. This means creating affordable tools, designing accessible training programs, and implementing financial incentives that make adoption feasible. The goal should be to make AI an engine of opportunity for businesses of all sizes, not just those with substantial resources.
The economic implications are significant. Small businesses employ more than half the global workforce and are essential to local economic vitality. If they cannot participate in AI–driven growth, the broader economic consequences will be far–reaching. However, with strategic investments and inclusive policies, AI can help small businesses boost productivity, expand market reach, and build long–term resilience.
AI as a Catalyst: From Potential to Practical Impact
Today, AI is shifting from a competitive advantage to becoming a critical tool for every business. Small companies still face barriers, such as cost and limited resources, in adopting AI compared to large enterprises. Overcoming these barriers unlocks tangible benefits by demonstrating how accessible AI can empower them. By making AI accessible to small businesses globally, we can strengthen supply chains,
THE GOAL SHOULD BE TO MAKE AI AN ENGINE OF OPPORTUNITY FOR BUSINESSES OF ALL SIZES, NOT JUST THOSE WITH SUBSTANTIAL RESOURCES.
foster local innovation, and build a more resilient economic ecosystem.
Consider an example in the supply chain: AI–powered analytics can significantly improve demand forecasting by analyzing historical sales data, seasonal trends, and real-time market insights. This allows small businesses to predict customer demand accurately, reducing costly overstock situations and preventing shortages that could lead to lost sales. Additionally, making AI accessible can powerfully drive local innovation. By automating routine administrative tasks, AI enables entrepreneurs and small teams to dedicate more time to strategic growth and meaningful customer interactions. AI tools that analyze customer feedback can identify unmet needs or niche market opportunities, empowering agile small businesses to innovate effectively and enrich local market ecosystems.
When businesses leverage AI, they help build stronger and more dynamic economic systems. By optimizing operations and driving innovation, local companies become more financially stable. AI tools enable these businesses to reach new markets and diversify their revenue streams. Ensuring AI is accessible to businesses of all sizes is a strategic investment in an inclusive global economy that benefits everyone.
About the author: Tarja Stephens is an entrepreneur, advisor, and leading voice in AI readiness, the future of work, and talent development.
