Lessons:
1. Markets are not self-regulating. Financial regulations are a must
2. Markets do not work the way they are meant to work - in the present instance they have helped to privatise profits and socialise losses
3. Properly designed and implemented stimulus programmes can help revive economies
4. Fighting inflation is not everything, you need to manage your assets too
5. Not all innovation, eg financial instruments, leads to a productive and efficient economy. It can on the other hand, lead to disasters.
Read this simple yet scholarly article from Joseph Stiglitz, Economics Prof at Columbia Uty and Nobel laurete.in Economics, 2001.
http://timesofindia.indiatimes.com/home/opinion/edit-page/Hard-Knocks-Hard-Battles/articleshow/5402863.cms
ge..
A train of thoughts and writings on development, technology and the economy focusing on the socio-techno-economic-cultural surge of developing economies to regain and partake in leadership of the world. Written by George Easaw, member of the faculty of Business Administration of Allliance University, Bangalore, India. (This is purely an academic site, no commercial use is allowed. Photography rights lie with the respective organisations). Mention credits as needed.
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