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When America Was Most Innovative, and Why

Harvard Business Review

The chart below illustrates a strong relationship between patenting activity and GDP per capita at the state level. It predicts that an innovative state like Massachusetts, which from 1900 to 2000 had four times as many patents as a less innovative state, like Wyoming, would become 30% richer in terms of GDP per capita by 2000.

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Will Germany Leave the Euro?

Harvard Business Review

With Greek public debt already at more than 140% of GDP even before the bailout, it's reasonable to ask if the strategy can even work. More in danger would be small counties like Portugal and Ireland, whose public debt-to-GDP levels are between 90% and 100% and that have fairly bad unemployment levels already.

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Will Greece Survive the Crisis?

Harvard Business Review

GDP shrunk this year by 5.5% Our horrendous public debt is compounding and the public debt to GDP ratio will soon hit almost 200%, a level that can force our country to default on a most of what it owes. Finally it must honor its commitment to elections on February 19, 2012. Consumption continues to drop.

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Three Reasons the Euro Zone Deal Won't Work

Harvard Business Review

Being deprived of a currency printing press, Euro-bound states cannot credibly commit to bailing out their banks, so when their banks inevitably get themselves into trouble, this shows up in their sovereign's yield. The Irish government, with a GDP in 2011 of close to 160 billion euros, has committed at least 64 billion euros to its banks.

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Financial Fears, Flows, and Globalization

Harvard Business Review

Our current problems stem, in part, from the special characteristics of finance, which as Keynes noted , is highly dependent on sentiment and, as Hyman Minsky emphasized , therefore particularly susceptible to crises. All this suggests a particular fragility of confidence in and commitment to foreign financial assets when the times get tough.

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Small and Young Businesses Are Especially Vulnerable to Extreme Weather

Harvard Business Review

they account for 50% of employment and 45% of GDP. Firms applied for credit to finance recovery. Despite the need for credit to finance recovery, disasters can also constrain the capacity of lenders to supply it because so many households and businesses are affected at once. Challenge risk financing conventions.

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Global Demand for Food Is Rising. Can We Meet It?

Harvard Business Review

First and foremost, farmers, trading companies, and other processing groups (Big Food in particular) need to commit to deforestation-free supply chains. To attract more financing and investment in agriculture, the risks need to be reduced by governments.