Elbit And Modern Warfare: The New Normal


When PIMCO’s CEO, Mohamed A. El-Erian, delivered his “Navigating the New Normal in Industrial Countries” at the Per Jacobsson Foundation lecture in 2010, he stated: “Our use of the term was an attempt to move the discussion beyond the notion that the crisis was a mere flesh wound… instead the crisis cut to the bone. It was the inevitable result of an extraordinary, multiyear period which was anything but normal.” He was, of course, talking about the structural financial changes that were brought about by the 2007-2008 financial crisis. But those changes extend well beyond the field of finance. (more)

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