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Project Syndicate
WEDNESDAY, SEPTEMBER 12, 2018
This month marks the tenth anniversary of the collapse of Lehman Brothers and the start of the global financial crisis. In the decade since, the global economy has registered strong growth, but significant risks and imbalances remain. To help make sense of the import of Lehman's collapse and the lessons for today's policymakers, Project Syndicate's editors have selected twelve of our most trenchant commentaries on the causes and consequences of the Great Recession.

HOW MARKETS FAILED


The Failure of Free-Market Finance

Adair Turner asks whether the world has addressed the fundamental cause of the 2008 financial crisis.



Did Capitalism Fail?

Roman Frydman and Michael Goldberg argue that 2008's near-meltdown was a failure of contemporary economic models' understanding of the role of financial markets in capitalist economies.



Confronting the Global Threat to Democracy

Ngaire Woods says that only better governance can save globalization from itself.
 

DID WE LEARN ANYTHING?


The Lost Lesson of the Financial Crisis

Mohamed El-Erian argues that advanced economies still haven't done enough to fix their flawed growth models.



Recovery is Not Resolution

Carmen Reinhart warns that the recent growth pickup in major advanced economies is obscuring serious weaknesses.



The Turning Point of 2008

Adam Tooze highlights the overlooked link between Russia's invasion of Georgia and the global financial crisis.
 

ARE WE DOOMED TO MAKE THE SAME MISTAKES?


The Making of Lehman Brothers II

Simon Johnson highlights congressional Republicans' recent efforts to weaken oversight of systemically important banks.



What Lehman Brothers' Failure Means Today

Harold James suggests that the event that triggered the 2008 crisis is still largely misunderstood.



Crisis, Rinse, Repeat

Brad DeLong laments that obvious failures in the response to the Great Recession still have not been acknowledged.
 

WHERE DO WE GO FROM HERE?


Who Really Creates Value in an Economy?

Mariana Mazzucato takes aim at neoliberalism and its academic cousin, "public choice" theory.



Can We Regulate Systemic Risk?

Michael Spence explains why more episodes of financial instability are likely.



The Global Economy Ten Years After

Jim O'Neill warns that while growth since 2008 has been stronger than many realize, stormclouds are gathering.
 
Crash Time
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