Policy Currents | The newsletter for policy people
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** July 23, 2024
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CrowdStrike Meltdown Highlights Systemic Risk

Last Friday, a global computer system disruption brought flights, trains, banks, and businesses to a halt. The outage was traced to a single update of Falcon, a software product offered by the cybersecurity firm CrowdStrike.

This domino-effect disaster provides a stark warning of the risks posed by today's interconnectivity, says RAND's Jonathan Welburn. A special set of firms--CrowdStrike and Microsoft, for example--have systemic importance to a wide range of critical functions. And when they go down, so does everything they touch.

Experts call these big, interconnected, and hard-to-replace firms systemically important entities, or SIEs. One key step the United States can take to strengthen its defense against future meltdowns is to establish and codify a list of SIEs. Welburn coauthored a report that outlines a transparent, data-driven methodology for how to do just that. ([link removed])

The world has changed since the 2008 financial crisis: It's not just banks that are "too big to fail." Identifying other such entities may not prevent the next disruption or crisis, Welburn says, but it will help society plan for the impacts.

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The Return of the Military Draft?

After decades of the draft becoming increasingly rare, more and more countries are either considering reinstituting military conscription or expanding an existing draft. According to RAND's Raphael Cohen, this trend stands in stark contrast to the dominant conception of the future of warfare, which has largely centered on the rise of machines. It turns out, Cohen says, that despite all the technological advancements, modern warfare is still manpower-intensive. "As much as we may be enamored with the idea of increasingly bloodless wars fought largely by machines, battlefield reality has proved the opposite."

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'Sleep Divorce' Needs a Rebrand

Survey data show that a growing number of American couples are choosing to sleep separately, a phenomenon that has been termed "sleep divorce." But choosing to sleep apart is hardly a divorce, says RAND's Wendy Troxel. In fact, it can be a sign of a healthy relationship. Sleeping apart allows each partner to create a sleep environment tailored to individual preferences, whether that's a cooler room, a firmer mattress, or a different bedtime. And when both partners are well rested, it can lead to a stronger, more positive relationship. So, instead of filing for "sleep divorce," Troxel says, think of it as forging a "sleep alliance."

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** RAND Recommends
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- Vox spoke to RAND's Beau Kilmer about his recent research on psychedelic substances, such as magic mushrooms and MDMA. Whether state policymakers like it or not, Kilmer said, they're going to start confronting conversations about psychedelics legalization and retail sales.
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- A recent RAND study revealed that companies that invest in their frontline workers--and are clear about where and how they do so--could see a meaningful uptick in their stock value.
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- Some have called "social inflation" one of the biggest disruptors facing the insurance industry. Learn more about this phenomenon and its effects in a new RAND report.
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** Events
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Policy Lab: Reconstructing Ukraine
Wednesday, July 24, 2024 (Online)
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Pardee RAND Admissions Webinar: Master of National Security Policy Overview
Thursday, July 25, 2024 (Online; more dates available at the link above.)
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