So yesterday s (pre crisis) world is being resurrected.

As a result, there were 50 million more working poor in 2011 than projected by pre crisis trends for 2002 2007.

The ratio of total public debt to GDP was less than 22 in 2007 2008, before the global financial crisis.

That is by far the most protracted period of weakness in real US consumer demand since the end of World War II and a massive slowdown from the pre crisis pace of 3.6 annual real consumption growth from 1996 to 2007.

The hope was that policy settings soon would return to pre crisis norms.

Investment flows have recovered, reaching the annual average for the years prior to the Asian crisis.

Relative to the US dollar, an equal weighted basket of 10 major Asian currencies (excluding Japan) has retraced the crisis related distortions of 2008 2009 and has now returned to pre crisis highs.

But attitudes changed as soon as the crisis erupted in 2007 2008.

Thus, the Turkish economy returned to its pre crisis levels in 2010.

Once the current global crisis is over, nothing will ever be the same again.

In many advanced economies, real GDP remains lower than its pre crisis level.

The discussions before the crisis illustrated how little had been done to repair economic fundamentals.

Continuing to assume the resumption of pre crisis growth was necessary to justify postponing hard decisions.

By 2009, national income was twice what it was at the nadir of the crisis, in 2002, and more than 75 above its pre crisis peak.

DAVOS The World Economic Forum s annual meeting in Davos has lost some of its pre crisis panache.

Moreover, we do not even know whether these numbers are unusually high when compared to pre crisis trends.

With household consumption accounting for about 70 of the US economy, that 2.7 percentage point gap between pre crisis and post crisis trends has been enough to knock 1.9 percentage points off the post crisis trend in real GDP growth.

The fact that many Western economies got out of recession last year should not fool us into thinking that the crisis was only a brief interlude, and that the post crisis world can return to the pre crisis status quo.

At the same time, while consumer confidence is on the mend, it remains well below pre crisis readings.

The idea is that if there is no adequate incentive to restructure once a crisis starts, it should be built in before the fact.

Equally interesting is the link that the study finds between income inequality and pre crisis economic policy.

BERLIN Just weeks ago, the worst of the financial crisis in Europe seemed to be over. Stability seemed to be returning.

The Post Crisis Crises

In short, it is because China began its adjustment one year before the global crisis that its economy emerged earlier than other countries.

The duration of the countdown before taking a photo, in seconds

Indonesia's situation during the period under review represented the full meaning and depth of the term multidimensional crisis.

Missing all of these signals produced the pre crisis illusion of sustainable growth and employment, and helps explain why the crisis, rather than its causes, is viewed as the culprit.

Of course, all these comparisons are made with how things stood last month rather than with the country s pre crisis economic performance.

Turkey s unemployment rate is currently at its lowest point in a decade, and the public debt ratio is significantly below the pre crisis level.

But it was responsible for allowing flawed expectations of a sharp recovery to pre crisis levels of output and consumption to persist.

Plant derived Prior to Paracelsus, the vast majority of traditionally used crude drugs in Western medicine were plant derived extracts.

Before the crisis, such ideas would have been dismissed out of hand.

The case against Bernanke rested partly on his performance before the crisis.

The low level of real interest rates does not appear to be due to the 2007 2009 financial crisis.

crisis group map of fights in DRC between April Nov 2012

During this time, the magnitude of contraction will be significant, with roughly one quarter of all developing countries expected to cut expenditures below pre crisis levels.

Meanwhile, GDP in many European countries remains markedly below pre crisis levels.

Many advanced economies must still address the end of the pre crisis growth pattern generated by excessive domestic demand.

A transitory rebound from such a hard fall is not surprising, and German output remains below pre crisis levels.

Its current account surplus peaked, before the financial crisis of 2008, at around 11 of GDP.

The reason is simple the pre crisis period of consuming capital gains that turned out to be at least partly ephemeral inevitably led to a post crisis period of inhibited spending, diminished demand, and higher unemployment.

It had a fiscal surplus before the crisis after the crisis, its deficit increased to more than 11 of GDP.

And yet, although these central banks failed us before the crisis, they should still play the lead role in preventing the next crisis.

First, the crisis and Great Recession of 2008 2009 were a wake up call. While Chinese export industries remain highly competitive, there are understandable doubts about the post crisis state of foreign demand for Chinese products.

After all, banks are bound to lend on adequate collateral and, in the run up to the crisis, rising house prices provided it.