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Public figures appear to have lost the capacity to reassure or lead people. Instead, they frequently opt for evoking frightening futuristic scenarios where the line between fiction and reality become unclear. In every respect, the sensibility that underpins public debate today can be described as a ‘crisis of nerve’. This crisis over the future coexists with a powerful sense of disorientation about the status and worth of the human species itself. Increasingly, humanity is represented as the biggest problem on the planet, rather than as the harbinger of a better future.

In terms of its material impact, this was arguably the most significant event of the year. After more than a decade of economic stability, the world economy faces the threat of a major recession with important implications for people’s lives. This threat may not make an exciting plot for a sci-fi movie, but it has a direct bearing on the quality of life of millions of people. It also raises important questions about an economic system that is so heavily reliant on using fictitious capital to reproduce itself. Unfortunately, however, today’s future-frightened public debate about economics seems more interested in finding ways to transform capitalism into a carbon-free, green-leaning system than in discussing the steps we need to take to minimise the destructive impact of a global recession on people’s lives and aspirations.

Worst-case thinking, the principal legacy of 2007, will most likely thrive in the years ahead. That is unless we can rediscover a sense of purpose in what it means to be human.