Mastering management: managing in a downturn As the previous three issues in this series have illustrated, we are living through a unique time in several ways. Not only is this recession probably the worst since the second world war, but it also caught us by surprise.
Over the past few decades, economic theories have become increasingly sophisticated, borrowing analytical tools from theoretical physics and mathematics. Financial tools have become vastly more complex. Regulators have created sophisticated rules to govern the economy, particularly banks.
