Shiller, Robert J., (2016), “Fighting the Next Global Financial Crisis”, Project Syndicate, 18 May
What do people mean when they criticize generals for “fighting the last war”? It’s not that generals ever think they will face the same weapon systems and the same battlefields. They certainly know better. The error, to the extent that the generals make it, must operate at a more subtle level. Generals are sometimes slow to get around to developing plans and ordnance for those new weapon systems and battlefields. And just as important, they sometimes assume that the public psychology, and the narratives that influence the morale that is so important in achieving victory, is the same as in the last war.
Relevant Posts
- Johnson, Simon, (2016), “The Next Global Boom – and Bust”, Project Syndicate, 29 April
- Ferry, Pisani, Jean (2016), “Preparing For Europe’s Next Recession”, Social Europe, 1 April