The upside of the GFC

For many, the collapse in global asset prices, freezing of credit markets and the fear that characterised the 2007/08 economic crisis – since given the unoriginal moniker of The GFC – was a cataclysmic event. We shouldn't underestimate the impact the GFC has had on millions who have lost jobs, homes and livelihoods. But it is probably now time to ask; was there an upside? Are there any good things to come from the calamity? In American and the UK, where the brunt of the pain was borne, there has arguably been a change in the collective psyche. Conspicuous consumption hasn't gone away in...

For many, the collapse in global asset prices, freezing of credit markets and the fear that characterised the 2007/08 economic crisis – since given the unoriginal moniker of The GFC – was a cataclysmic event. We shouldn't underestimate the impact the GFC has had on millions who have lost jobs, homes and livelihoods.

But it is probably now time to ask; was there an upside? Are there any good things to come from the calamity?

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