In the 20th the "precious asset" was know-how (the "how to do"), In the 21st it is philosophy (the "why do", watch my vlog (on YouTube): "A key difference between the 20th and 21st centuries: From "How?" to "Why"", 1 min 46 seconds)
In the first 11 yrs of the century, all the conventional wisdoms, golden, common senses, and most theories of the 20th have expired.
The crises are a result of the business as usual, politics as usual, economic policy as usual bc the "usual" has become outdated-irrelevant.
Eg Merkozy's neo-conservative "new ideas" is not an answer to the challenges of the era. In spite of their spreading around the EU in 2011
Portugal, Spain, Ireland have caught the neocon virus in 2011. Italy & Greece are trying a strange recipe. UK had already fallen in 2010.
The "Middle Earth" is France and the key "battle" will be on May 6.
By being so blatant, Agorocracy is actually helping the political world & people wake up and stand up to it. They have not, yet.
The neocon approach of Merkozy et al to the crisis suffers from a kind of "Stockholm syndrome" vis-a-vis Financial Agorocracy.
The worship of the Financial Markets is not consistent with secularism.
The EU is not the problem. Germany is not the problem., The neo-conservatives in Germany, France, NL, all over the EZ and EU are the problem.
Europe needs to rediscover its core values, ie the Ancient Greek and Renaissance ones. And build its new ideas & policies on those roots.
For the US, the challenge is even more challenging.
The lessons from WWI and WWII were not that economic crises can be avoided, It was that they are no excuse for racism, xenophobia, nationalism, scapegoating. With that in mind, 2011 showed that Europeans have forgotten the lessons from the world wars of the 20th.
Values, culture and traditions are real if they can evolve, be inclusive and blend with others (see eg the so called Hellenistic Times, see my post "Globalisation, today and in 300 BC")
Values, culture and traditions that cannot do that and instead use dominance to try to become adopted by others, are pseudo ones, not real.