Insightful: Rahm Emanuel on the opportunities provided by crises

Emanuel with Barack Obama

The Schumpeter column in The Economist last week recounts how, just after Barack Obama was elected president, his incoming chief of staff, Rahm Emanuel, told a conference of American captains of industry, “You never want a serious crisis to go to waste.”

Quite right. It’s in a slump that innovative companies are created or come out fighting. As The Economist notes “Business is more likely to take advantage of this ‘serious crisis’ than the world’s politicians.”

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