Doom: The Politics of Catastrophe by Niall Ferguson review
(Evening Standard) – From plagues and volcanic eruptions to the current Covid pandemic, mankind has always been faced with catastrophes.
Thought Leader: Niall Ferguson
Laurence Mussio: Risk in the Ozempic Era
Thought Leader: Laurence Mussio
November 26, 2025
Source: The Globe and Mail
Written by: Laurence Mussio
In “The Transformation of Risk in the Ozempic Era,” Laurence B. Mussio argues that Novo Nordisk’s market shock stemmed not from scientific failure, but from a failure to recognize what Ozempic had become. Its success transformed the drug from a pharmaceutical product into a form of social and economic infrastructure—creating a new category of corporate risk.
Mussio explains that while Novo Nordisk mastered traditional innovation and R&D risk, it failed to anticipate “trust risk,” which emerges when a product becomes so essential that shortages affect social stability and invite political intervention. Once Ozempic crossed this invisible threshold, standard supply-and-demand models no longer applied. Cultural adoption, financial attention, and government involvement signaled a fundamental shift in how the drug was perceived and governed.
Drawing historical parallels to Rome’s grain supply, Mussio shows how essential goods blur the line between private enterprise and public responsibility. When products reach infrastructure status, companies must manage expectations around access, fairness, and legitimacy—not just efficiency and growth.
The article concludes that breakthrough innovation doesn’t eliminate risk; it transforms it. Leaders who fail to recognize this phase change risk losing value not because they failed at execution, but because they misunderstood the scale and responsibility of their own success.
Read the full article here: The transformation of risk in the Ozempic era
Dr. Laurence B. Mussio is a strategic historian and trusted advisor to CEOs who helps leaders make sense of today’s volatile geopolitical and economic landscape. Known for his ability to connect historical patterns to modern disruptions—from AI and trade shocks to institutional and market realignments—he brings clarity to moments of uncertainty.
As Chair of the Long Run Institute and a senior advisor to global executives, Dr. Mussio combines rigorous insight with engaging storytelling, offering audiences not just analysis, but a sharper strategic lens for navigating what comes next. To learn more, contact us today.
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