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Three months prior to publication of this article, the term ‘system crisis’ was only heard in think tanks and sleepy research institutes. Who else worried about it? Now, with the financial crisis, it is competing with ‘meltdown’ to become the most-used term in newspapers and on the television and radio. At least one in five countries is categorized as being unable to meet its obligations. That process has been developing slowly for many decades. You could say that is a slow system crisis, but that’s almost a contradiction in terms.
© 2008 IDP. This article has been licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported license.
Economic Development and Trade