The global Achilles heel – including in the economy and other examples
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Published on: January 1, 2022 / update from: January 1, 2022 - Author: Konrad Wolfenstein
The Achilles heel in the economy – Image: Xpert.Digital
An Achilles heel is a weakness despite general strength that can lead to failure. While the mythological origin refers to physical vulnerability, idiomatic references to other characteristics or qualities that can lead to failure are common.
In the press, the Achilles heel is used relatively frequently as a crucial vulnerable point, e.g. E.g.:
- “Investment banking: Deutsche Bank’s Achilles heel?”
- “The nerves are on edge: BVB’s defense is becoming an Achilles heel”
- “Venezuela’s Achilles heel has been hit – Venezuela’s ambassador in Vienna, Jesse Chacón, admits his country’s import dependency.”
In Greek mythology, Achilles' early death was foretold when he was still an infant. To prevent his death, his mother Thetis took Achilles to the River Styx, which was supposed to make him invulnerable. She dipped his body into the water, but because she held his heel, it was not touched by the water of the river. Achilles grew up to be a man of war, surviving many great battles.
However, the spot on the heel where she held Achilles with her hand remained untouched by the water of the river, making it the only vulnerable spot. In the most popular version of Achilles' death, he is said to have died from a wound to his heel sustained by a poisoned arrow shot by Paris.
In Norse mythology, the motif of unique vulnerability appears in the form of a mistletoe, which makes Balder vulnerable and ultimately kills him. One day Balder has a dream about his own death, whereupon his mother Frigg goes to every animal and plant and asks them to take an oath that they will not hurt Balder. Only the young mistletoe seems too insignificant to Frigg for her to take an oath from him.
A similar mythology can also be found in the Nibelungen saga. Here a linden leaf covers a part of Siegfried's back when he bathed himself in dragon blood to become invulnerable. Later in the saga, Hagen assassinated him from behind with a spear in this single vulnerable spot.
Achilles heel infrastructure
Infrastructure is generally considered the Achilles heel of the private economy, because maintenance and operation, be it transport routes, water or electricity supply, are often financially expensive and generate little profit. However, the provision of infrastructure or public services, such as garbage collection, serve the common good.
Achilles heel supply chains
Supply chains are considered the Achilles heel of globalization and the global economy. The acute corona pandemic in particular has shown that no short-term solutions or strategic alternatives have been developed to date.
Achilles heel nuclear power
Everything could be so beautiful and nuclear power could be declared as renewable energy. But the fact is that the problem with highly toxic nuclear waste is still not solved, nor is safety - regardless of the cost-benefit ratio, which has never really been fully clarified. Nuclear power was supported with many subsidies totaling over 1 trillion euros, which raises the question of its actual economic viability.
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