Crisis is the mother of innovation - What good can we expect as a result of the current severe recession?

The best result I have noticed is the decrease in the demand for gasoline.

Recession often leads to reduction in comnsumption. So techniques like/for cost reduction come up.
To look for alternatives would bring up something new.
Use/utilization of solar energy could become hot topic.

I agree with both of the posters above. A definite lean towards greater energy efficiency. As for smaller changes, I predict that many of us who are having trouble finding a job will create our own jobs. We’ll start the little businesses we never thought we could manage in better times, only because there is no other option! Who knows what kind of big innovations might come out of that? I can’t wait to see.

I think it’ll fuel home industries like sewing and knitting, making one’s own clothes, and I think that the charity sector will boom as more people shop in charity shops for clothes.

@augustlan – greater energy efficiency is exactly what the world needs – I’m very glad that Barack Obama has made this a priority – most European countries are at least 10 years ahead of the United States

Morality in finance.

Oops, just kidding.

Consumers will buy fewer items and will keep the ones they have longer. Quality and longevity will be more important than appearance. Buy one good one widget and keep it instead of upgrading every year.

@qashqai – Well, I believe we will see more watchdogs for morality in the future. A few greedy people will always remain, but they can’t feel save anymore. Civil society and NGOs will also play an important role in terms of oversight, not just the official institutions. The rules will be changed at the upcoming conference in London.

@Lupin – Are you familiar with the cradle-to-cradle concept?

@mattbrowne Absolutely. I’ve worked with Argonne Nat Lab software on it. I have a copy on this PC. That is the only sensible way to look at the issue. Unfortunately people don’t get it. The new economy will help people make the right decisions.

People will get it eventually. Wait till the barrel of oil hits $250 and steel and other metals get so expensive all existing products will be seen in a totally new light

I agree. It’s not a popular position but I believe gasoline should be at least $5 per gallon with $2 of that going to fund the war and debt. We are paying for it anyway. Make the tax encourage a behavior that will help society. I know people here will complain : “Oh, I can’t afford it.” Well, you managed to buy that “made in China” Plasma TV and the new “made in China” phone and you’re paying for high speed internet, cable…and you went out for drinks last weekend. Some people overate, some smoked, some used drugs. We spend money for that, and it’s killing us.
The price of gasoline in Europe and Japan is about $8–12 per gallon. Most of that price is tax. The people manage by conserving and making intelligent choices. Americans can do it too. (We don’t want to, but we can. We are strong enough!)

It’s why Europe has cars like the new Ford Fiesta with 65 mpg. There was an incentive for car companies to build fuel-efficient cars because fuel is expensive. GM and Chrysler continued building dinosaur cars unaware of the looming comet destined to hit.

I think it will be a real sea change in people viewing wealth as a virtue. It will curb the rampant materialism of the last couple of decades.

I also see the beginnings of a movement to help those around us.

I am suffering with the shift in economy like many but I also feel an excitement for changes to come, long overdue changes. People will now learn to live without taking credit for granted, they will learn how to live healthy and well with less, outmoded businesses will be filtered out and a restructuring of commerce will come.

The big 3 American car companies tried to outrun progress and competition from better quality foreign makes by expanding into worldwide markets and upping their advertising while offering the same old product- FAIL. Banks used to extend credit to consumers but became consumers of foreign credit themselves, turning into mere waystations for electronic transfers of worthlessness- FAIL. Convenience business and cheaper foreign farming have made Americans un healthy and fat. All those commercials by the Egg Advisory Board, Beef Council and oh yeah… McDonald’s- FAIL.

@VzzBzz – Great answer. I wanted to click on the feature, was it seems disabled sometimes.

@mattbrowne Sometimes it takes a couple of seconds to register, or won’t show at all unless you refresh or revisit the page. Rest assured, VzzBzz got your GA!

@augustlan :-)