Systemic Cognition During the Sub-Prime Crisis: Lessons and Research Implications

Abstract

This paper uses the example of the Global Financial Crisis (GFC) of 2008-9 to demonstrate how patterns of systemic cognition influenced outcomes during the crisis. This paper focuses on systemic patterns that emerged during the sub-prime crisis. By reviewing systemic patterns and reflecting on the assumptions of actors it is believed that further insight for research potential could be revealed. I argue that patterns of systemic 'cognition' that emerge during complex social events can be captured and reflected on. This provides useful insight into the interpretative structures of messy problems that in turn reveals previously undiscovered systemic thinking. The paper uses this illustration of the GFC to structure a debate about future research possibilities.

Social Responsibility and Citizen‐Driven Innovation in Sustainably Mastering Global Socio‐Economic Crises

“…Rather, they would call for systems thinking, creativity and cross‐boundary collaboration in replacement of the old reductionist thinking (e.g. Houghton and Ledington ; Mulej ; Cordoba and Campbell ; Houghton ; Steiner , ). More generally, to adequately resolve modern crises, they require tailored competences.…”