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Chandrakanth M

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Is crisis good in its own way ??

Great depression, Asian crisis, Lehman’s failure and the latest euro zone debt issues; though have had major Impacts on the growth on certain economics of some countries, lessons learnt from these crises have helped many emerging economies.
It’s only in crisis, when countries will realize their real growth against the inflated growth and the necessary actions or reforms which are needed.
It’s only in crisis, when countries will have a chance to know the importance of their neighborhood countries which can mobilize foreign investments and increase cross border transactions to help the economy of the affected country.
It's only in crisis , when countries will understad the importance of the financial architecture and the after affects of complex financial products

My question : Is crisis good in its own way ??

Topics: global economics
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    Nicholas Lukowiak 50+

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    Feb 6 2012: Considering we already had pretty much every type and kind of crisis in history at this point in time it is pure ignorance/arrogance on a massive scale in which we repeat our mistakes.

    So.. Yes crisis is good, BUT only if we learn from it collectively -> and NO crisis is bad, because we are repeating history's mistakes all over again.

    Does anyone really think monetary systems are a modern century invention? That banks are a new type of corporation?

    The only difference between today and 1 A.D is the number of people + technology => the ideas are the same though = tax, bank and repeat.

    *** I'm an absurdist on topics of economy because it is based on philosophy but mutated into protocols, laws and privatized organizations. I would rather promote ideas such ideas as the Venus Project or anything similar (which there are, but they are not as extreme) -> which is really what this world needs, some extreme actions to push globalization into a positive direction. As of now the best futuristic thought (in my opinion) to push the world together would be an outside threat i.e. aliens attacking. That still being problematic in many dimensions of thought - one hell of a crisis, no?
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      Chandrakanth M

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      Feb 7 2012: Yes , People in groups by forming new international / national monetary groups can be used to monitor the occurance of crisis.

      Technology can be used to monitor and regulate new products and their transcations , which are at times can be root causes for damage.

      Hence , people and technology can be major resources which are , if used in a proper direction can monitor and avoid crisis.
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    Thomas Anderson

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    Feb 6 2012: I think Humanity has the resources to reduce crisis. I do not think crisis is good at all. The emotional scaring that occurs during crisis takes generations to fade away.
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    Kieran Preissler

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    Feb 6 2012: Crises help keep us down to earth. They remind us that nothing is perfect while at the same time showing us our hidden talents
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    Colleen Steen 500+

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    Feb 6 2012: Crisis with the economy is similar to any other life crisis, in that we can look at and evaluate the information the crisis provides, and make changes.....or not. As David says..."if there's a crisis it's because something is going wrong" and "if the crisis persists, it's either because the problem hasn't been properly identified or those who created it haven't changed their behaviour".

    I also agree with Krisztián in that people "fear the immediate consequences of change", and changes may be more difficult for people when they do not understand, or choose to ignore some of the long term consequences.

    Crisis provides information, which we can use to make changes, and in that way, may be a guide to what needs changing. It is not necessarily the crisis that is good or bad, but rather how we use the information.
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      Chandrakanth M

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      Feb 7 2012: Exactly , Crisis provides indications which can be used as red alert signals for prevention of any sort of damage in the future.

      Crisis and the pre or post crisis analysis , is what one should observe and learn.
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    David Barnett 20+

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    Feb 5 2012: If there's a crisis it's because something is going wrong somewhere. If the crisis persists it's either because the problem hasn't been properly identified or those who created it haven't changed their behaviour. The present crisis in Europe and America owes its present situation to both of these. The problem is that everyone who counts in the decision-making process has been paid off and the thieves are still filling their pockets. Personally, I cannot see this is going to change for at least another 15 years.
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      Chandrakanth M

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      Feb 6 2012: David , you are correct.

      There are still deep pockets , which have excess money , while the economy is on slower pace.
      Its an clear indication of parallel economy or un accounted economy.
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    Krisztián Pintér 200+

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    TED Translator
    Jan 27 2012: yes, you are right. we should separate the wheat from the chaff, and downturns are exceptionally good times to do that. however, governments do everything in the book to prevent that from happening. they do this amid applause and cheers from the people who fear the immediate consequences of change, not understanding the long term consequences of not having a real cure. so in short, an economic crises could have such beneficial effects, but only if we let it happen.
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