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Crisis of Faith in the Financial System

Harvard Business Review

This pattern of abstracting further and further away from "real" things and "real" value has continued to the present day, giving us credit cards and collateralized debt obligations (not to mention casino chips). The Ming note is printed with the statement that it is "To Circulate for Ever" — quite a vote of confidence from the treasury, and presumably one necessary for such an innovative approach to payment and livelihood. Economy Finance

What Economists Know That Managers Don’t (and Vice Versa)

Harvard Business Review

In this worldview, disasters only happen because the rules of the game in which the businesses operate must be flawed. To begin with, quite a few parts of it are heavily concentrated at a global level (the credit ratings business, for example, or global investment banking), and many more at the national level (just six financial institutions account for 46% of all U.S. Economy Finance Why did Jean Tirole win the Nobel Prize in Economics?

What Economists Know That Managers Don’t (and Vice Versa)

Harvard Business Review

In this worldview, disasters only happen because the rules of the game in which the businesses operate must be flawed. To begin with, quite a few parts of it are heavily concentrated at a global level (the credit ratings business, for example, or global investment banking), and many more at the national level (just six financial institutions account for 46% of all U.S. Economy Finance Why did Jean Tirole win the Nobel Prize in Economics?