The Transition to Sustainability
The global economic crisis will be with us for a generation, not just a year or two, because it is really a transition to sustainability. The ability to offset the crisis in a constructive manner, through expanded infrastructure investments in both the developed and developing world, will determine the subsequent success of countries and regions.
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NEW YORK – The global economic crisis will be with us for a generation, not just a year or two, because it is really a transition to sustainability. The scarcity of primary commodities and damage from climate change in recent years contributed to the destabilization of the world economy that gave rise to the current crisis. Soaring food and fuel prices and major natural disasters played an important role in undermining financial markets, household purchasing power, and even political stability.