Harvard Business Review

NOVEMBER 29, 2010

Here's what orthodox economics would have predicted for a country without banks: A collapse in the money supply, a credit crunch, a trade implosion, mass unemployment, an atomized GDP, and the gears of industry and commerce grinding to a crashing halt. Tags: Economy Finance Global business.

Banking 15

Banking Crisis Merton Decentralization 15

Harvard Business Review

NOVEMBER 29, 2010

Heres what orthodox economics would have predicted for a country without banks: A collapse in the money supply, a credit crunch, a trade implosion, mass unemployment, an atomized GDP, and the gears of industry and commerce grinding to a crashing halt. Imagine all the veins in your body suddenly shrinking and collapsing — Avada Kedavra!!

Banking 15

Banking Crisis Merton Guidelines 15

Harvard Business Review

SEPTEMBER 29, 2014

For several decades after World War II, economists used statistical techniques to build increasingly complex models to forecast key macroeconomic variables, notably, GDP growth, inflation and unemployment. Economists and finance. Economists and big data. Admittedly, better pricing of options has been a mixed blessing.

Strategy 12

Strategy Black-Scholes Airlines Price 12