Why did total losses from subprime-mortgage-related securities, amounting to $500 billion, in the context of a global financial system where the banking sector's assets are ~$80 trillion, have such a large effect on the global financial system and on the broader economy? We note that the 500 bill... (more) Notes from the book.
The Genesis of Business School
- Every practice of a career has inadequacies, when practiced unfettered in an environment of free market capitalism. (e.g. quack doctors in American 19th century.) Therefore a profession exists to mitigate those inadequacies - for example enforci...