Lessons from disaster

Catastrophe Risk


The financial crisis has left people grasping for words to adequately describe its impact. 'Meltdown', 'collapse' and 'carnage' are just some of the adjectives used, most of which are synonyms for disaster. The reach for an analogy with natural calamities is not simply for graphic effect, but helps provide a mental and emotional context in which we relate to the scale and destructive force of the events. But perhaps something can be learned from drawing an analogy between the financial crisis