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Ideas shape the world in profound ways—they challenge norms, inspire action, and lead to transformative changes.
Design Competitions: A Catalyst for Innovation During Economic Downturns
Design competitions surged in popularity between 2008 and 2010, amidst the global economic turmoil of the Great Financial Crisis. This period, marked by uncertainty, also gave rise to innovative design ideas. Notably, high-profile competitions like WPA 2.0 (organized in 2008 by UCLA’s cityLAB) and Rising Currents exhibition (by MOMA, 2010) demonstrated how design has the power to inspire change.
Economic downturns, such as the 2007-2008 financial crisis, are unique opportunities for rethinking norms and pushing the boundaries of creativity. These competitions became a platform for emerging designers to present forward-thinking solutions—and winning teams solidified their place in the design world.
The impact of these design competitions extended far beyond the competition rooms. Images and concepts from these influential events were exhibited at design schools and museums, and it reached a wider audience through media coverage—they sparked new conversations in design communities worldwide.
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Highlights
2009
finalist - Top 6
competition: WPA 2.0
JURy
Elizabeth Diller (PRINCETON)
Cecil Balmond
Marilyn JORDAN Taylor (DEAN, upENN)
Walter Hood (CHAIR, uc BERKELEY)
Stan Allen (DEAN, PRINCETON)
Thom Mayne
2012
2nd prize
competition: Re-imagining The East River Waterfront
JURY
Signe Nielsen
Rob RogerS
Billie Tsien (yale)
Adam Yarinsky (mit)
Al ButzeL
William Castro
Jack Travis
Warren James
2012
1st prize
competition: Research Fellowship At Boston’s Gardner Museum
JURY
Julie Bargmann (uva)
Alan Berger (mit)
Anita Berrizbeitia (harvard)
Julia Czerniak (dean, university at Buffalo)
Walter Hood (chair, uc berkeley)
Anuradha Mathur (upenn)
Jane Wolff (University of toronto)
Charles Waldheim (harvard)
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Boom and Bust
1929 THE GREAT DEPRESSION
1973 Oil Crisis & StagflatioN
1980 EARLY 1980S RECESSION
1997 ASIAN FINANCIAL CRISIS
2007 THE GLOBAL FINANCIAL CRISIS
2020 THE COVID-19 PANDEMIC RECESSION
The Next Economic Downturn: Could It Be Worse Than the Great Depression?
The Great Depression remains the most catastrophic economic collapse of the past century, but it wasn't the only time the global economy faced near collapse. Crises like the 1973 oil shock, the 1980s recession, the Asian Financial Crisis, the 2008 Global Financial Crisis, and the COVID-19 pandemic recession have all reshaped markets and affected millions worldwide. While each crisis had unique causes, they share a common theme: the devastating impact of financial instability and the interconnectedness of today's global economy.
Now, we face a new economic storm—one that could surpass the crises of the past. Since the 1980s, every downturn has required massive government intervention, pushing national debts to unsustainable levels. The rising cost of debt repayment is putting a serious strain on global economies, and with federal debt soaring, the next downturn may demand more aggressive measures—likely, even more money printing than we saw during the COVID-19 pandemic.
This unrelenting cycle of borrowing for rescuing could reach its breaking point, leading to a financial collapse even greater than the Great Depression. But amidst this looming crisis, innovation can offer hope. Design competitions and emerging technologies might provide solutions for softening the blow of this inevitable downturn, giving us tools to rebuild in new, more sustainable ways. Will the next economic collapse mark the end of an era? What role will innovation play in shaping the future of our economy?