Recognize Factors to Hasten Burning Bacteria: Financial Crisis Recovery
4 Pages Posted: 19 Apr 2010
Date Written: April 16, 2010
Prevention is better than cure. If you can not prevent the crisis, augment factors which can cure crisis earlier. Preventing financial crisis forever is daydreaming. Crises are going to happen, because economy is composed of several known & unknown factors interacting subjectively with each other, creating cascading & cyclical effects. An economy is the system of production, exchange, distribution, and consumption of goods and services. An economy is the end result of a process that involves its technological evolution, civilization's history, political actions, social organizations, geography, natural resource endowment, ecology, among other unknown factors. These factors give context, content, and set the conditions and parameters in which an economy functions. The core element here is the human mind, which is highly subjective, dynamic & unpredictable. Resources are limited and human expectations are unlimited. So, we propose that if crisis can not be prevented, augment factors & accelerate rate of recovery from the crisis by understanding influencing factors. There are several time tested monetary & fiscal measures that helps in speedy recovering from financial crisis.
Compared to the previous crisis, 2008 crisis was much severe, the research runs on premise that 2008 crisis recovery was early than expected. Research aims at studying major 5 economic crises that world has seen in last 85 years. The study will analyze selected major affected countries’ (USA, Japan, UK, Germany & China) socio-economic conditions around the period of crisis and policy intervention to see how much time it took for recovery. We will study number of person/institutes involved, socio-economic conditions, technology access & political conditions around each selected crises covered in the study. We will compare each country’s policy intervention and recovery time during particular crisis. We will identify and critically analyze factors relevant for recovery from the crisis. Our focus is to reduce timing to recover from the crisis and augment around factors that accelerate recovery process. Information access, information assessment, Information sharing, Information control & usage and information integration is the quorum to proceed.
Keywords: Financial crisis, global financial crisis, economic crisis, recovery time, monetary fiscal policy
JEL Classification: A00
Suggested Citation: Suggested Citation