It is not an overstatement to describe economic growth in much of the developed world—especially in the US and Europe—as lacklustre. Since the Global Financial Crisis of 2007–8, growth rates have consistently remained below trend. Notably, this dilemma has persisted for the last 7 years, so it’s about time we better understand why growth hasn’t returned to its pre-crisis trajectory.
The Global Financial Crisis highlighted the shortcomings of the financial sector and its exposure to risk. Fuelled by the failures of financial regulators, governments and central banks, many lessons can be learnt from the GFC.
This article first appeared in Short Supply 2017 – check out the full magazine via the Short Supply tab at the top of this page!