Chief Executive Officer, New York
The driving force of the economy is changing. The phenomenon of the economic cycle, with its boom and bust of credit expansion and contraction, has historically driven the fortunes of business and the economy at large.
As we saw in the 2008 financial crisis, these factors remain important. However, gaps between cycles have been lengthening in recent decades, and governments and businesses alike have become ever more adept at managing their effects.
This article was originally published by the World Economic Forum