Word: crisises
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The University responded to these claims by issuing a statement which acknowledged the potentially detrimental impact of the budget crisis, but was also optimistic about Harvard’s relationship with HUCTW going forward.
Krugman noted that the unemployment rate in the average financial crisis rises for almost five years before starting to decline.
In response to a question from the audience, Krugman critiqued President Barack Obama’s recent proposal to break up large banks for not addressing “the essence of the financial crisis.”
This increasing truculence is a direct reflection of a rapidly shifting economic balance of power. One of the consequences of the financial crisis of 2008-09 was the catapulting of China to the forefront of the global economic system. That trend wasn't created by the crisis, but the crisis...
But while many Chinese take delight in America's plight and would like to end the close embrace that has brought China such prosperity over the past two decades, they are falling prey to delusions of grandeur. The fact remains that as much as China may want to go it...