The upside of the GFC

The GFC will long be remembered as a calamity. Is there any upside that can be salvaged from the crisis?

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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