Economic crises are one of the bigger challenges that modern economies face, with great interruptions in financial markets, widespread unemployment, and deep decline in economic output. Throughout history, from the Depression of the 1930s, the Global Financial Crisis of 2008, to the COVID-19 induced recession of 2020, such phenomena have afflicted human societies.¹ Accordingly, it remains vital for policy actors and economists all over the world to understand how pertinent crises emerge and how best to respond to them. In times past, economies were simple and so could be predicted and controlled; today, however, we live in an interdependent age in which predictions and control have become ever elusive. The classical schools assured that these were temporary; that markets would restore balance themselves, yet the empirical evidence shows that such downtrends would prove to be long, in the absence of intervention, and causing irreversible damage to their social and economic bases.² This thesis looks at the fundamental causes of an economic crisis and examines the various responses to these crises through policies across the world.