"It is increasingly clear that the current downturn is fundamentally different from recessions of recent decades. We are experiencing not merely another turn of the business cycle, but a restructuring of the economic order."I think McKinsey's David and the Globe's Weisman are absolutely correct to call this business environment "The New Normal."
I just wished they had acknowledged that this blog had identified this new phase in a post on Nov. 7, 2008.
Davis referred to his article as "a Conversation Starter." I refer to it as a "Conversation Continuation."
But it's worth reading the Globe and McKinsey articles even if they don't cite my article.