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While many economists and policymakers place great emphasis on doom loops and polycrises, positive feedback cycles or “boom loops” can also be fostered to create long-term economic momentum. Boom loops do not emerge automatically and governments can step in to help build successive waves of industrial growth and technological advancement, as seen in South Korea. Decarbonization can be reframed as a boom loop. Investments in clean technologies can drive innovation, lower costs, strengthen competitiveness, create jobs and improve energy, environmental and economic security. At this year's World Economic Forum Annual Meeting in Davos, Switzerland, one recurring theme was that the global economy is caught in a series of self-reinforcing crises. Economist Eswar Prasad describes this dynamic as a “doom loop” – a negative feedback cycle in which economic, domestic political and geopolitical dynamics amplify and reinforce each other in destabilizing ways. Closely related is the idea of “polycrisis,” popularized by historian Adam Tooze: the notion that overlapping shocks, such as climate instability, pandemics, extreme inequality and democratic erosion, interact to amplify risk and uncertainty. There is no doubt that today's challenges are deeply interconnected. But as scholars such as Yuen Yuen Ang have argued, the way we frame these challenges...