Other OECD countries are busy analyzing the damages inflicted on their growth potentials. What about our own growth potential – is it sound? Although crises are invariably accompanied by pain, we can also learn a lesson from a crisis. As the saying goes, “Don’t waste a crisis”. I would deem crises as providing their sufferers with very valuable lessons.
From a historical perspective we should never overlook the fact that crises have a tendency to recur. If we go back to “business as usual”, we cannot possibly say that we have learned from the crisis. Did our way of thinking change? Did our way of conduct change? Did our organization change in response to the global financial crisis?