POLB81H3 Lecture Notes - Lecture 8: Credit Crunch, 1997 Asian Financial Crisis, Mania
6 Sep 2013
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Polb81 lecture 8 march 4th 2013. Global forum on the on-going european crisis. No because it"s a company not an institution. It"s an instant of transnationalism, the power of credit rating agency to influence what goes on in the global economy. Britain"s financial minister said relax, it"s not so bad. These credit agencies matter but sometimes they screw up but that doesn"t change the fact that they matter. Crisis: help, uncertainty, large negative effects/fundamental problems, urgency, scale, tipping point/critical juncture, the speed of which problems are unfolded. Crisis: you have to take action quickly. Economist is worried if the us didn"t take action, then the global economy is going to explode. Crisis is in the eye of the beholder. A crisis does trigger a different government response. Financial crises are nothing new because it"s been going on at least 400 years. Tulip mania crisis - one of the first financial crisis.
