Resilience is an unseen aspect of economic life. We cannot count it or touch it. It doesn’t appear on financial statements. Yet i ts presenc e gives us assurance and allows us to sleep well at night, while its absence drives men and women to the unemployment office, machinery to the scrap heap, and businesses into bankruptcy. Even unseen, it is a... See more

A more effective way to add resilience to one’s savings is by ruthlessly avoiding it s opposite: economic fragility.