by Andrew Curry

Growth and development are an overarching focus of business. The climate for growth in the 21st century is also changing, as resource pressures push up costs, and businesses are more closely scrutinised amid changing expectations about their public and social responsibilities.

And, of course, growth is harder to find in difficult economic conditions, which in turn create difficult market conditions. However, recession is never uniform, and it always creates the potential for disruptive shifts in the structure of markets and the relative income of different groups of consumers. It often accelerates existing shifts in values. It encourages technological innovation. Recession is also a coiled spring, because recovery will come eventually, sometimes helped by public investment or public intervention. One of the things we learn from the 1930s is that business can create new dynamics of economic, social and technological change, and reshape people’s views of the present and the future.

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