Do Crises Drive Innovation? — Valdai Club

Crises are an intrinsic part of the current economic system and while the question of attempting to avoid severe crises in the future will invariably feature in economic policy debates, the more realistic question on the agenda is whether it is possible to exploit the potential of crisis episodes to spur innovation. Indeed, the response of the business community to the unique conditions in the global economy elicited a significant capability to meet the challenge of the pandemic via adjusting to changes in demand.