The Achilles' heel in the economy – Image: Xpert.Digital
An Achilles heel is a weakness despite overall strength that can lead to failure. While the mythological origin refers to a physical vulnerability, idiomatic references to other characteristics or qualities that can lead to failure are common.
The press frequently uses the term "Achilles' heel" as a crucial vulnerable point, e.g.:
- “Investment banking: The Achilles heel of Deutsche Bank?”
- "Nerves are frayed: BVB's defense is becoming their Achilles heel"
- “Venezuela’s Achilles heel has been hit – Venezuela’s ambassador to Vienna, Jesse Chacón, acknowledges his country’s import dependency.”
In Greek mythology, Achilles was prophesied to die young when he was just an infant. To prevent his death, his mother Thetis took Achilles to the River Styx, which was said to make him invulnerable. She submerged his body in the water, but because she held him by the heel, it remained untouched. Achilles grew up to be a warrior who survived many great battles.
The spot on her heel where she held Achilles' hand remained dry from the river water, thus becoming his only vulnerable point. In the most well-known version of Achilles' death, he is said to have died from a wound on his heel caused by a poisoned arrow shot by Paris.
In Norse mythology, the motif of unique vulnerability appears in the form of a mistletoe branch, which makes Balder vulnerable and ultimately kills him. Balder has a dream of his own death, whereupon his mother Frigg goes to every animal and plant and asks them to swear an oath that they will not harm Balder. Only the young mistletoe branch seems too insignificant for Frigg to make swear an oath from.
A similar mythology can be found in the Nibelung saga. Here, a linden leaf covers a spot on Siegfried's back when he bathes in dragon's blood to become invulnerable. It is at this very same vulnerable spot that Hagen later murders him with a spear from behind.
Infrastructure: Achilles' heel
Infrastructure is generally considered the Achilles' heel of the free market, as maintenance and operation—be it roads, water or electricity supply—are often financially demanding and generate little profit. However, the provision of infrastructure, or public services such as waste collection, serves the common good.
Achilles heel of supply chains
Supply chains are considered the Achilles' heel of globalization and the global economy. The acute COVID-19 pandemic, in particular, has demonstrated that neither short-term solutions nor strategic alternatives have yet been developed for this issue.
Achilles heel of nuclear power
Everything could be so wonderful, with nuclear power declared a renewable energy source. However, the fact remains that the problem of highly toxic nuclear waste is still unresolved, as is the issue of safety – regardless of the cost-benefit ratio, which has never truly been clarified. Nuclear power has been supported with numerous subsidies totaling over €1 trillion, raising questions about its actual economic viability.
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