The current worldwide economic recession is not the first of its kind and will not likely be the last. But what should we learn from it? Vinod Thomas, Director General of Independent Evaluation Group at the World Bank Group, discussed the lessons from the crisis during a speech at Peking University in Beijing on February 18. Edited excerpts follow. The current worldwide economic recession not the first of its kind and will not likely be the last. But what should we learn from it? Vinod Thomas, Director General of Independent Evaluation Group at the World Bank Group, discussed the lessons from the crisis a speech at Peking University in Beijing on February 18. Edited excerpts follow.