“The basic aggregate measure of gearing or leverage is telling us that today's advanced economies' operating systems are more heavily dependent on private sector credit than anything we have ever seen before. Furthermore, this pattern is seen across all the advanced economies, and isn't just a feature of some special subset (e.g. the Anglo-Saxons).” TodayEconomySpecialPatternsCreditFeaturesDependentPrivate SectorOperating SystemsAnglo Saxon Author:Alan M. Taylor
“It's just very hard to teach a class of students about what has happened in the Global Financial Crisis, how we ended up there and how we got to where we are today, without having some basic, non-trivial understanding of the financial sector, credit, and the banking system.” HardTodayUnderstandingClassTeachHappenedStudentsCrisisFinancialCreditBankingFinancial CrisisBanking System Author:Alan M. Taylor