Global Credit Crisis – A Crash Course from MIT

While the current global credit crisis may not match the Great Depression in terms of lost well-being (yet), it is certainly unprecedented in its scope and in the complete shut off of credit markets worldwide. I am no expert, but the first source below from This American Life will get you up to speed on the housing burst. The second source below is a weekly course on the Global Crisis by Dr. Simon Johnson, the Ronald A. Kurtz Professor of Entrepreneurship at the MIT Sloan School of Management (see his bio here).

Start with this one-hour episode from This American Life entitled The Giant Pool of Money by host Ira Glass and guests Alex Blumberg and Adam Davidson. This episode covers the global capital market and its involvement in the housing crisis. The housing crisis was one of the first steps in producing our current global credit crisis.

Next, catch up with MIT’s Global Crisis class which will cover weekly happenings in the financial market as well as relevant economic theory. Daily updates and materials are available on Simon Johnson’s blog, The Baseline Scenario (which I highly recommend even if you don’t watch the course). Links to previous classes including notes and videos can be found below, although the easiest way would be to go through the last 2 months of blog entries. Next class is Dec 2 (class #5 I think).

Next post will be on virtual assistants.

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One response to “Global Credit Crisis – A Crash Course from MIT

  1. Good stuff. There is so much ideological entanglement between economics and politics that it is difficult to see the economic issues clearly. Economic principles should dictate economic policy, not visa versa, and that’s why this info you’ve provided is so useful.

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