What about this financial and economic crisis?

Right now, in February 2010, hysteria and fuss which were created by the global financial crisis throughout all social ranks and countries worldwide has nearly subsided. You can even hear people asking: Does the crisis continue or have we left turbulent times? Optimism is surfacing again.

But what exactly happened since the downfall of Lehman Brothers? Several meetings of the heads of states, discussions about a global regulation of the financial sector and stimulus packages in all sizes have come over us so far. Time has passed and some concerns have not come true. But huge imbalances in our financial and economic system are still existing. Nevertheless, efforts to commonly and globally fight for a sustainable, stable and equitable economic system after two years of crisis seem to be pretty hushed.

So will we continue as usual, as if the crisis was merely a bad dream? If so, same difference there. Another crisis won´t wait to arise.

We observe an increasing acceleration of global economic processes. This acceleration, if it is not guided – this is our task -, will lead to cause and effect chains that are hardly traceable anymore. If you want to put it that way, it will lead to steadily more complex and chaotic economic processes which will especially provoke short term actions.

Under this assumption, which will endure within the next decade due to technological progress and an escalating global linkage, crises (financial, economic, food as well as resource crises) will become more frequent and more intense.

Especially we as the young generation ask: Why is there so much gambling with our future? And what else has to happen so that the world’s present powerful and influential people finally get it done instead of keeping on talking.

The Greek meaning of the word crisis says that a crisis is a crucial twist, a difficult situation or time marking the climax and turning point of a dangerous development. If this development takes a constant negative course, the Greek talked about a catastrophe, literally a downturn.

Taking this definition of crisis, why do we have this crisis? The current economic situation also gives us the chance to redesign our financial and economic system in a better way, to actively eliminate the existing imbalances and to create a globally sustainable economy. We do not have to head towards a catastrophe.

I am wondering whether it is desirable or not if the current crisis will be over soon? Or how long should the crisis last, how much heavier does it have to become so that we finally eliminate the measure flaws of our financial and economic system together and globally?