Tony Leon Columnist

A famous question was asked by British monarch Queen Elizabeth II: “Why did no-one see it coming?” This was not her question on the coronavirus pandemic, but her inquiry at the London School of Economics back in November 2008 on the credit crunch set off by the global financial crisis, which the British queen described as “awful”.

Her crisp question highlighted the failure of a legion of bankers, politicians and economists to anticipate the last great recession.

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