10HarvardBusinessReview|July–August2009|hbr.orgFromtheEditor|What’sChanged?ONCEAcrisishasexplodedinourmidst,spreadacrosstheglobe,devastatedmil-lions,andthenfinallyreceded,howdoesitleaveus?MostlyyearningforwhatWarrenHarding,29thpresidentoftheUnitedStates,calleda“returntonormalcy.”Everyonerecognizesthatcuriousphrase,butlet’salsore-callitscontext:Hardingwascampaigning(hereinBoston,asithappens)intheaftermathoftheFirstWorldWar,whilethetreatiesthatwouldre-shapeEuropewerestillbeingsigned.Thinkhowhismessagemusthaveresonatedwithvoterssickofchaosandlongingtogobacktolifeasithadbeen.Talktocorporateexecutivestodayastheworldstrugglestoemergefromrecession,andyou’llfindfewofthemharbor-ingsuchfantasies.Instead,there’sawidespreadsensethattherewillbenogoinghomeagain–thatthelandscapeofbusinesshasbeenforeveral-tered.ThustheinspirationforthisspecialissueofHBR:Hop-ingtoputafinerpointonthoseforebodings,weaskedexpertsinmanyfieldstoexplainwhat’sreallychangedandhowtheshiftwillaffectthepracticeofmanagement.OneverysmartsetofanswerscomesfromeconomichistorianNiallFerguson,whomwe’repleasedtowelcometoHBR’spagesforthefirsttimeasafeatureauthor.Reflectingontheevo-lutionoffinancehesoelegantlychartedinhisbookTheAscentofMoney,Fergusonoutlinesherewhatmightcomeafter“thegreatdying.”Amonghispredictions:TheU.S.financialsystemwillbeashadowofitsformerself,butAmericawillbestrongerthanever.Read“TheDescentofFinance,”andyou’llunderstandwhy.Otherterritoriesremappedinthisissuerangefromtheprinciplesofeconomicstothecomposi-tionoftheworkforce.DanArielyofDukebelievesthatthecrisishasdriventhelastnailintothecoffinofHomoeconomicusandthatmanagerswillnowdevisebetterapproaches,havingdis-pensedwiththefaultyassumptionofrationalbe-havior.SylviaAnnHewlettandhercolleaguesattheCenterforWork-LifePolicyhavediscoveredthatadvancingGenYworkersareonthesamewavelengthaslingeringbabyboomerswhenitcomestowhattheywantfromaworkplace.Andbecausethosecohortsareeachabouttwicethesizeofdifferent-mindedGenX,they’reboundtogettheirway...
