A year later, Ben Bernanke, 2 then a Governor at the USFederal Reserve, delivered a speech in which he laid out what he regarded as the most striking economic development in the past 20 years: the extreme economic stability in the industrial countries.
Much like Francis Fukuyama, in his influential book The End of History and the Last Man, hoped that the end of the Cold War would put an end once and for all to the clash between the major ideologies, so, too, did many economists think the end of major economic crises was within reach.