The Great Debate UK

from The Great Debate:

How the Nobel economists changed investing forever

By Allison Schrager
October 15, 2013

The 2013 Nobel Prize for economics celebrates that financial markets work, but cautions how little we know. One theme unifies the work of all three winners: Eugene Fama, Robert Shiller and Lars Hansen -- risk. (A disclosure: until August I worked at Dimensional Fund Advisors, where Fama is a director and consultant.) Risk is unpredictable, but can be very profitable. That sounds simple enough, but it has profound implications -- not only for the lords of high finance, but households, too. Risk teaches humility, to overconfident investors and also policymakers. That humility was notably absent at the IMF/World Bank meetings last week. Policymakers should take special note of the prize this year; it reveals how little we really understand about financial markets.

Never waste a good crisis

October 11, 2013

The events in Washington over the last couple of weeks have shown two things: how a system of checks and balances government can be extremely frustrating and get nothing done, and how the Republican Party is in desperate need of a major change.

Science’s innovators are to be prized

By Guest Contributor
October 9, 2013

–Juha Ylä-Jääski (D.Tech.) is President and CEO of Technology Academy Finland. The opinions expressed are his own.–

from The Great Debate:

An unstable global economic system that is being ignored

By Daniel Alpert
October 8, 2013

Today, the International Monetary Fund announced yet another a reduction in its global growth projections for 2014, with its estimate of U.S. growth also reduced (citing reduced government spending, but not the present U.S. government shutdown -- or the heretofore unthinkable notion of the U.S. government defaulting on its obligations). Despite the seeming urgency of global economic slowdown, when world leaders attended their annual fall confabulation at the United Nations in New York last month, they focused on the diplomacy of physical security (Syria, Iran, etc.). Thus another year has passed in which global economic security issues were on no one’s reported agenda.

from The Great Debate:

Why “sustainability” should be more than a meaningless buzzword

By Elizabeth Scharpf
October 7, 2013

The term “sustainability” crept into the business lexicon slowly, by way of the environmental movement. It no longer means covering operating costs with profits, the definition I learned at Harvard Business School six years ago. Instead, it’s morphed into a blurry term that fits into whatever suitcase you want it to -- a catchall for everything “socially good,” whatever that means.

48 hours to save Syria’s children

By Guest Contributor
September 30, 2013

By Justin Forsyth, CEO of Save the Children. The opinions expressed are his own.–

from The Great Debate:

Why girls’ education can help eradicate poverty

By Pauline Rose
September 25, 2013

Educating girls and young women is not only one of the biggest moral challenges of our generation, it is also a necessary investment for a peaceful and poverty-free world. Until we give girls equal access to a good quality education, the world will continue to suffer from child and maternal mortality, disease and other byproducts of poverty.

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Only Generation Lockdown can resolve America’s gun debate

September 25, 2013

On the website of the Nationwide Children's Hospital in Columbus there is a statistic worth knowing if you live in Ohio. About 1,100 residents of the Buckeye State lose their lives at the trigger of a firearm every year. That includes homicides, accidental shootings and suicides.

How central bankers have got it wrong

September 24, 2013

If you asked someone to list the chief qualities needed to be a good central banker I assume that the list may include: good communicator, wise, attention to detail, clear thinking, credibility, and good with numbers.  However, in recent months these qualities have been sadly lacking, most notably last week when the Federal Reserve wrong-footed the markets and failed to start tapering its enormous QE programme.

from The Great Debate:

The minister who dreams of a reindustrialized France

By Peter Gumbel
September 23, 2013

The body of Jean-Baptiste Colbert, Louis XIV’s wily finance minister, is encased in a marble tomb in the Church of Saint Eustache in central Paris. But if you believe Arnaud Montebourg, the enfant terrible of French politics, his spirit is still very much alive, 330 years after his death, and about to spark a new, digital-age industrial revolution in France.