Xenophon of Athens believed that the technique of household management depended both on the art of managing the polis and on the art of managing oneself. For him, the economy (oikonomia) was not conditioned by political fortune and misfortune alone, but also by character - i.e. the virtues and flaws of those managing their households. The same could be said for states in the time of crisis. A comprehensive package of measures, with which Serbia responded to the crisis caused by the global coro-navirus pandemic, exceeded in its scope and depth the measures that were introduced as a response to the global economic crisis of 2008. This was made possible owing to the responsible conduct of economic policy in the past eight years.
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