Lessons from the financial crisis: What is to be done?

At the moment the focus is on assembling short-term stimulus packages to cushion the immediate effects of the financial crisis. In the opinion of Martin Schütte, Institute for Information, Organisation and Management of the University of Munich, too little attention is being devoted to a careful analysis of how the present situation developed and particularly what measures must be taken to prevent the same thing from happening in the future. In his commentary he gives the main reasons, in his opinion, for the current financial crisis and presents proposals for suitable countermeasures.