Carlos Slim's billionaire crisis rule about 'maintaining austerity in good times' is unexpectedly conservative

Billionaire Carlos Slim advocates for fiscal prudence during economic booms, a principle that strengthens companies for inevitable downturns. This approach counters the tendency for excessive spending and hidden inefficiencies that high revenues often mask. By focusing on waste prevention and retaining flexibility, businesses build resilience, enabling them to navigate crises without drastic measures.

By TOI World Desk