On the Conversation, I blog about the risks of electromagnetic disruption from solar storms and EMP: Electromagnetic disaster could cost trillions and affect millions. We need to be prepared.
The reports from Lloyds and the National Academies are worrying, but as a disaster it would not kill that many people directly. However, an overall weakening of our societal and global systems is nothing to joke about: when societies have less resources they are less resilient to other threats. In in this case it would both information processing, resources and ability to do stuff. Just the thing to make other risks way worse.
As a public goods problem I think this risk is easier to handle than others; it is more like Y2K than climate since most people have aligned interests. Nobody wants a breakdown, and few actually win from the status quo. But there are going to be costs and inertia nevertheless. Plus, I don’t think we have a good answer yet to local EMP risks.