Recency bias guarantees that, over the next week, we will see a large number of analyses comparing the stock market crash of March 2020 to the crash of late 2008. The analogy is particularly frightening because the 2008 crash contributed to a global financial crisis. And the stories will be a source of longer-term anxiety because of some of the political economy sequelae that are generally attributed to the crisis, including the rise of mass populist movements in Western democracies.
Read the Full Article Here: https://www.berggruen.org/the-worldpost/articles/the-coronavirus-presents-us-with-an-opportunity/
Author: Steven Weber