Why should we pause this weekend and reflect on the financial crisis of 2008.? My reply is that the crisis was a teachable moment upon which our collective wisdom depends.
These days, professors encounter the glaze of unfamiliarity that descends when referring to the financial crisis of 2008.
In the United States following the financial crisis of 2008 amounted to between $6 trillion and $14 trillion.
Familiarity with the causes, consequences and mitigants of financial crises would be valuable preparation for future leaders in business, government and the professions.
The 20-ish financial crises in U.S. history are largely idiosyncratic, each with its own lessons.
All financial crises have long tails; 2008 will be no different.
"Good judgment comes from experience; and experience comes from bad judgment." Remembering the bad judgments that underpinned the financial crisis of 2008 is profoundly important for future wisdom.
http://thehill.com/opinion/finance/406050-the-financial-crisis-of-2008-why-remember
These days, professors encounter the glaze of unfamiliarity that descends when referring to the financial crisis of 2008.
In the United States following the financial crisis of 2008 amounted to between $6 trillion and $14 trillion.
Familiarity with the causes, consequences and mitigants of financial crises would be valuable preparation for future leaders in business, government and the professions.
The 20-ish financial crises in U.S. history are largely idiosyncratic, each with its own lessons.
All financial crises have long tails; 2008 will be no different.
"Good judgment comes from experience; and experience comes from bad judgment." Remembering the bad judgments that underpinned the financial crisis of 2008 is profoundly important for future wisdom.
http://thehill.com/opinion/finance/406050-the-financial-crisis-of-2008-why-remember
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