ANALYSIS
A Look Back at the Great Crises of the Past to Overcome Fear Adriano Antonelli IBIX Srl - Lugo (Ravenna), Italy
C
adriano.antonelli@tecnosupply.com
urrent events as told by newspapers will soon turn into history
The crises of the 20th century
to be written in textbooks. For now, however, we are still
The economic crisis that immediately springs to mind, and which
wondering how we will get out of this and what price we will
is often used as a basis for comparison with more recent crises, is
have to pay in economic and social terms. Certainly, the past can offer
certainly that of 1929. After years of uninterrupted financial and
valuable teachings, especially to avoid repeating some mistakes. In
production growth, there was a sudden stop. Thursday, 24 and
particular, national economies will have to be shaken up before being
Tuesday, 29 October were the two “black days” that went down in
competitive again in international markets. So, how will they need
history. That crisis was the result of uncertainty about whether growth
to be organised and how will value chains change? Many industrial
was real and lasting or the economic bubble, as we would now call it,
districts are already transforming their structures and services.
was about to burst at any time. The overseas crisis quickly transferred
In general, the questions are manifold and the future economic
to international markets and especially to the European ones. Some
scenarios are uncertain and difficult to predict, but we can start by
countries already in difficulties, such as Germany, had the worst of it.
delving into how some past crises were overcome. © HangOn
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N. 67 - JANUARY/FEBRUARY 2021 - international PAINT&COATING magazine