Goodbye to “normal” — Excellent insight fromon our economic leaders’ “comforting myth of ‘returning to normal’” – I think it exists in many conversations outside the business world too.
The Biggest If Of All
I continue to see the comforting myth of ‘returning to normal’ show up in all sorts of discussions. Today, in a NY Times piece on where investment fund managers are finding good opportunities to invest the central point was that fund managers can’t find good investment opportunities, because high uncertainty. But — don’t worry! — everything will be fine as soon as we get back to normal.
…What I am interested in is the deep story, never examined or questioned: we are in a downturn like other downturns, and we will return to postmodern growth patterns: the typical boom/bust cycle that defined the past few hundred years of the modern and post modern economies.