Essay - Organizational Swarming Overview the Economic Crises the Terrible Attacks on...

Organizational Swarming

OVERVIEW

***** Economic Crises

The terrible attacks on New York and America in September 11, 2001 have been highly publicized across the world, and every small fact given worldwide scrutiny as so***** as it emerged. Yet ***** terrorist attacks were not the only swift and unexpected catastrophe to strike an unsuspecting population in recent years.

Out of an interconnected modern world have come other national *****d international disasters of a simil*****r pattern, w*****h equally devastating consequences. Perhaps the most visible example of complex global systemic problems and the need for a new approach to solutions is ***** recent crisis ***** the economies in Asia, Russia, and Latin *****. With currencies, banking systems, corporations, ***** governments toppling or being shaken, the crisis, which began with the collapse of the Thai baht on July 2, 1997, has proven to be a disastrous economic tidal wave that traveled around the world with unprecedented speed and deep impact. Eventually expected to cause far more deaths than 9/11, the economic ***** of ***** late 1990s had millions of victims - individuals as well as economic.

An analysis of the *****s, characteristics ***** implications of ***** crisis is relevant ***** economists but is ***** relevant for anyone concerned with similar *****s of risk as seen in the growth ***** transnational terror and the spread of deadly dise*****e.

The Asian economic crisis ***** its result*****g contagion, spilling over into Eastern Europe and Latin America, demonstrated clearly the need to be receptive ***** new ideas, to discard old models, and to be aggressive about addressing ***** true sources of the problems. The human cost of ***** crisis was enormous, as ***** the financial and political ********** of ***** ***** collapse. As the problems that emerged were *****, solutions also had to ***** considered afresh ***** action taken **********.

The International Monetary Fund (IMF), in ***** first instance, unwisely attempted to apply old solutions - raising interest rates, closing "bad banks," and imposing fiscal austerity with immediate effect. The result was the ***** of currency and capital markets, loss of confidence, social collapse, and an inattention ***** the full costs of the crisis. As a result, there ***** ***** ***** ***** faith in the IMF in particular and the West in general. Traditional national responses also failed. The World Bank was forced to sit on the sidelines. The United States intervened *****o late and never, in fact, provided any str*****g leadership during the *****.

Both ***** genesis of the crisis and ***** failures in response provide valuable lessons ***** apply to a broad range of similar problems and risks. A detailed understanding ***** the past can help to inform our ********** in the future - and to prepare in advance to avoid similar catastrophes where possible. In this recent set of *****terconnected global economic crises, our strategies and response capabilities were found to be dramatically short of what was required.

***** new and more comprehensive model of solutions will need ***** respond to the full impact of