The term crisis describes a “decisive turning point”. According to Björck (2016), this general definition provides a first important limitation. A crisis always marks a moment of decision. However, Björck (2016) also argued that this broad definition is insufficient for an appropriate economic discussion because any deviation from everyday life can be interpreted as a decisive turn. Consequently, the definition is too dependent on subjective perceptions and provides an unclear delineation for adequately identifying crises in an economic context. In addition, each crisis can vary greatly in its extent, causes, and effects, making it difficult to find a single comprehensive understanding that covers all situations.