Global financial crisis

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In bank stress tests, what’s worse: runs or lemons (the other kind)? Lemons via

Runs versus lemons: why US bank stress tests succeeded while Europe’s failed

US regulators chose to reveal detailed information to the public about the state of the banks. They were able to be so transparent, without triggering a run, because of a strong fiscal backstop.
Seeking constant distractions and identifying with brands and status symbols, we struggle to escape the superficial self. Shutterstock/Sean De Burca

The lies of happiness: living with affluenza but without fulfilment

In the first of our series, On Happiness, the question is whether unsustainable consumption and debt can ever bring us happiness. The global financial question was a chance to take stock, yet did we learn anything?
We bailed out the banks – our food is worth even more, but working out exactly how much more is tricky. Louise Docker/Wikimedia Commons

If dollars rule the world, why don’t the bees get a bailout?

Is it worth trying to put a price on the natural world, when things like water and food are priceless? Yes, says Paul Sutton - without knowing the value of the environment, we might not value it at all.
Graham Beal led the Detroit Institute of Arts through the city’s financial crisis. Les Ward

Rescuing Detroit’s art museum: an interview with director Graham Beal

Graham Beal, the Director of the Detroit Institute of Arts, recently announced that he will be retiring after fifteen years at the helm. Two of his achievements particularly stand out. The first is his…
Syriza leader Alexis Tsipras is odds-on favourite to emerge as the next prime minister in Greece. EPA/Orestis Panagiotou

Syriza surges ahead of January election as Greek voters reject austerity

The snap election called in Greece for January 25 has renewed speculation about the country’s uncertain future as left-of-centre Syriza looks likely to capitalise on the unprecedented unpopularity of the…
The collapse of Lehman Brothers was a pivotal moment in the most recent financial crisis. The next crash may feature another bank failure. Reuters

What will the next financial crisis look like – and are we ready?

The subprime crisis and the subsequent failure of Lehman Brothers came as such a shock – and the repercussions were so severe that when the time came to mount a response, policy makers were as surprised…

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