In some ways, the summer of 2008 signaled for the U.S. economy what events like Pearl Harbor and the collapse of the Soviet Union signaled for U.S. foreign policy. They were big turning points that occurred outside the frame of what we had thought was possible. They signaled that the world was no longer working the way we expected and that the old way of doing things no longer applied. This had enormous implications: In December 1941 and in January 1992, much of the previous decades’ thinking about how the world worked had to be thrown out. We had to not just learn the new rules of the game but also figure out which new game it was that we were even playing (and hopefully in time to write some of our own rules).