Although dangerous financial vulnerabilities in America will take time to build up again, the present financial peace is likely to be far shorter than the 75 years that separated the Depression and the Great Recession.
That would be less troubling had the world made itself more robust to future crises after the last one.
In the years after the Depression, sweeping banking and financial reforms created new regulatory institutions and placed tight constraints on financial behaviour, which made finance a very boring industry for most of the next half-century.
From the 1980s to the 2000s, those restrictions were largely undone: banks were given freer rein over the activities they could engage in and products they could create.
The financial crisis could not have occurred without this liberalisation.
Yet in its wake, the financial sector has been treated relatively gently.
Oversight and disclosure have been improved and capital-adequacy rules toughened.
But some of these rules are now being relaxed, at least in America, and the financial industry's weight in the world economy has scarcely changed.
As a share of American GDP it has actually increased somewhat since 2007.
The stabilisation policies used in the Great Recession were vastly superior to those of the Depression.
But today's governments have done a worse job of learning from experience than did their forebears.
Franklin Roosevelt did not simply seek to restore growth.
Rather he promised reflation in order to make up the ground lost during the downturn.
1.take time to 抽空；花时间
例句:These plans take time to come to fruition.
2.build up 建立
例句:The collection has been built up over the last seventeen years.
3.financial crisis 金融危机
例句:We must pull our company out of the financial crisis as soon as possible.
4.in order to 为了
例句:In order to ensure success we must have a complete and thorough plan.