Financial Crisis

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01-Strategy-500
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How This Financial Crisis Isn’t Different

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Harvard economist Kenneth Rogoff gave a fascinating guest lecture at MIT earlier this week -- looking at commonalities in a number of financial crises. Rogoff, who recently coauthored a new book, This Time is Different: Eight Centuries of Financial Folly with Carmen M.

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07-Strategy-500
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Expert opinions on the economy

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Harvard’s Martin Feldstein and MIT’s Simon Johnson offer insights on the economy and the banking system.

012-Innovation-500
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Better days for innovation ahead?

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It's a fairly gloomy week on the world economic stage, with International Monetary Fund managing director Dominique Strauss-Kahn declaring a number of leading economies in depression and U.S. President Obama warning of the possibility of financial catastrophe if a stimulus bill is not passed.

017-Innovation-500
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Reallocating Wall Street talent

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“Highly skilled labor should be reallocated away from the financial industry towards more innovative sectors” of the economy, writes MIT economist Daron Acemoglu in a new essay.

021-Operations-500
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Innovating our way to a financial sector meltdown

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The global financial crisis that occurred in 2008 can be viewed as a systems accident that was fueled, in part, by innovations in the financial sector.

0-recession-downturn-500

Confidence, Tricked

Since 2007, as banks took successive writedowns related to deteriorating mortgage-backed securities, the conventional wisdom was that we were facing a crisis of bank solvency triggered by falling housing prices and magnified by leverage.

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09-Innovation-500
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Innovations, good and bad

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As he analyzed the financial crisis for Newsweek, Johns Hopkins professor Francis Fukuyama contrasted Silicon-Valley-style technological innovation and financial innovation. Supporters of financial regulation, Fukuyama wrote, had
argued that long-standing regulations like the Depression-era Glass-Steagall Act (which split up commercial and investment banking) were stifling innovation and undermining the competitiveness of U.S. financial institutions.

017-Strategy-500
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Mintzberg predicted a crisis in U.S. economy

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Score one for Henry Mintzberg, the well-known management scholar and professor at McGill University. In an essay that has been posted on his website since 2007 but that now seems eerily prescient, Mintzberg predicted that 2008 would see a substantial downturn in the U.S. economy.

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