Here's an attempt by one finance writer to look beyond the current crisis and have a think about what the world will look like in a few months' time. Here's what John Willman of the FT thinks will happen:
- A deep scepticism of finance (hence a locked-in contraction of the financial sector).
- A surge of recruits into the safer worlds of the public sector, such as teaching.
- Much reduced levels of leverage.
- People becoming more financially savvy.
- Kinder attitudes towards society's failures but also less tolerance towards public spending.
19 hours ago