Learning from Crises
Crises are often learning opportunities. Unfortunately, so far the world seems to have learned very little from the recent financial crisis: with the US worried by its anemic economic recovery, Europe paralyzed by fears for the euro's survival, and emerging markets wrestling with asset-price bubbles, the situation today is as dangerous as it was in 2007.
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PRINCETON – Crises, especially very severe ones, are often learning opportunities. Unfortunately, so far the world seems to have learned very little from the recent financial crisis. In fact, the situation today is just as dangerous as it was in 2007, with the United States now worried by its anemic economic recovery, Europe paralyzed by fears for the survival of its currency union, and emerging markets wrestling with asset-price bubbles.