Kim Spence-Jones 🇬🇧😷 on Nostr: Another aspect of that is that reforms done properly always significantly increase ...

Another aspect of that is that reforms done properly always significantly increase costs in the short term (because you should never abandon the old system before the new one is fully debugged and bedded in). Often there is simply not the slack in the system to allow any reform, even when there isn’t a crisis.
It’s easy for an organisation to get stuck in some sort of local maximum. This is the main reason why sometimes new entrants to a marketplace can supplant incumbents.