Last stand: this photograph became an icon of the crisis, and shows bankers attending an emergency meeting at the London office of Lehman Brothers as the firm slid towards collapse, 11 September 2008 ©Gwion Moore/Reuters

Have we learned the lessons of the 2008 crisis? Could a new bubble form and burst? This chapter from Donald Johnston’s 2017 book, Missing the Tide: Global Governments in Retreat, provides food for thought.

These covers of the OECD Observer magazine, which followed the crisis as it unfolded, capture the story over 10 years, including the damage it wreaked on people and the exploration of new models, promising better policies for better lives. They offer a handy snapshot to mark the 10th anniversary of the fall of Lehman Bros on 15 September 2008 and the onslaught of what has been widely described as the worst crisis of our lifetimes. 

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It’s been a decade since the financial crisis changed our world, forever. What did the OECD say at the time? What has the organisation been saying since?

The OECD is not only giving advice, but also listening. Over the past decade, the OECD has invited many experts to present their analyses of the crisis. Read their stories here.

Economic data

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Consumer price inflation: 1.9% August 2019 annual
Trade: +0.4% exp, -1.2% imp, Q1 2019
Unemployment: 5.1% August 2019
Last update: 9 September 2019

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