Wanted: global tightrope artists
The current crisis differs from previous slumps because it has spread across the globe. As a result, there is less likelihood that a strong actor will jump in and save the situation.
The crisis calls for a paradigm shift
The economic downturn shows that markets are not self-regulating but instead essentially self-destructive. Yet economics courses ignore this fact.
There is a strong correlation between non-conformist religions and enterprise. The emphasis that these congregations give to industriousness and taking responsibility have created favourable business environments that contrast with today's easy-money economy and irresponsible speculation.
No companies without risk takers
The problem is not getting people to start companies, but the lack of entrepreneurship that provides long-term growth. This is solved by encouraging risk-taking, not with social insurance.