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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 ??

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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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      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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