Growthpolicy Exclusives: Interviews with Harvard Faculty on Jobs, Inequality & Preventing the Next Financial Crisis. Link

Growthpolicy Exclusives: Interviews with Harvard Faculty on Jobs, Inequality & Preventing the Next Financial Crisis: * Richard Parker (April 2016) * Jeffrey Frankel (December 2015) * Ricardo Hausmann (December 2015) * Henry Lee (November 2015) * Benjamin Friedman (October 2015) * Richard Zeckhauser (September 2015)

US with an inexperienced President, over-leveraged China are biggest risks. Kenneth Rogoff, May 24, 2017, Video, “Talking to Punita Kumari Sinha of ET Now, Kenneth Rogoff, Economics Professor, Harvard University, says about 80% of US currency is in 100 dollar…” Link

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Trump’s “China deal” is only a good deal for China. Lawrence Summers, May 24, 2017, Opinion, “The events of the last week have crowded out reflection on economic policy. But things have been happening. Commerce Secretary Wilbur Ross described the trade deal reached with China earlier this month as “pretty much a herculean accomplishment….This is more than has been done in the history of U.S.-China relations on trade.”Link

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‘Secular Stagnation’ Even Truer Today. Lawrence Summers, May 25, 2017, Opinion, “Larry Summers is doubling down on his secular-stagnation hypothesis. The Harvard economist and former Treasury secretary first offered the bleak diagnosis in November 2013 at an International Monetary Fund conference. The U.S. and much of the rest of the world, he suggested, was suffering from a chronic shortage…Link

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Monetary Policy in a Low Interest Rate World. Kenneth Rogoff, May 19, 2017, Paper, “How should monetary policy be conducted if trend global real interest rates continue to remain below historical norms for another decade or two? And how, especially, might monetary authorities prepare for another deep recession? Whether or not the world has…Link

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Growth in India is meaningful and significant. Michael Porter, May 25, 2017, Video, “Stressing on the fact that competitiveness is important for sustained growth in India, Michael Porter of Harvard Business School said that growth in India is meaningful and significant. He also added that they do not enough data to assess job situation in India.Link

 

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Firms, crowds, and innovation. Karim Lakhani, May 2017, Paper, “The purpose of this article is to suggest a (preliminary) taxonomy and research agenda for the topic of “firms, crowds, and innovation” and to provide an introduction to the associated special issue. We specifically discuss how various crowd-related phenomena and practices–for example, crowdsourcing, crowdfunding, user innovation, and peer production–relate to theories of the firm, with particular attention on “sociality” in firms and markets. We first briefly review extant theories of the firm and then discuss three theoretical aspects of sociality related to crowds in the context of strategy, organizations, and innovation: (1) the functions of sociality (sociality as extension of rationality, sociality as sensing and signaling, sociality as matching and identity), (2) the forms of sociality (independent/aggregate and interacting/emergent forms of sociality), and (3) the failures of sociality (misattribution and misapplication). We conclude with an outline of future research directions and introduce the special issue papers and essays.Link

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