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Curated by Project Syndicate

The Lehman Legacy

11 commentaries

The collapse in 2008 of US investment bank Lehman Brothers triggered the worst financial crisis since the Great Depression, with millions still suffering from the economic downturn and high unemployment that followed. Why, five years later, has regulatory reform lagged and economic recovery remained elusive?

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  1. Did Capitalism Fail?
    People walk past the New York Stock Exchange Drew Angerer/Getty Images

    Did Capitalism Fail?

    Sep 13, 2013 Roman Frydman & Michael D. Goldberg argue that 2008's near-meltdown was a failure of contemporary economic models' understanding of the role of financial markets in capitalist economies.

  2. Five Years of Financial Non-Reform
    pa3437c.jpg Paul Lachine

    Five Years of Financial Non-Reform

    Sep 13, 2013 Anat R. Admati on the politics of banking regulation.

  3. Learning from Lehman
    pa1422c.jpg Paul Lachine

    Learning from Lehman

    Sep 11, 2013 Liu Mingkang

  4. The Failure of Free-Market Finance
    pa3850c.jpg Paul Lachine

    The Failure of Free-Market Finance

    Sep 4, 2013 Adair Turner

  5. Lehman’s Morbid Legacy
    tb0439c.jpg Tim Brinton

    Lehman’s Morbid Legacy

    Aug 27, 2013 Mohamed A. El-Erian

  6. The Global QE Exit Crisis

    The Global QE Exit Crisis

    Aug 26, 2013 Stephen S. Roach

  1. fischer224_Chip SomodevillaGetty Images_trumpinauguration Chip Somodevilla/Getty Images

    Trump at the Gates

    Joschka Fischer urges Europeans to recognize that they are now on their own in an increasingly dangerous world.
  2. stiglitz347_Kevin DietschGettyImages_bye_biden Kevin Dietsch/Getty Images

    The End of Progress?

    Joseph E. Stiglitz

    Though the United States has long led the world in advancing basic science and technology, it is hard to see how this can continue under President Donald Trump and the country’s ascendant oligarchy. America’s rejection of Enlightenment values will have dire consequences.

    predicts that Donald Trump’s second administration will be defined by its rejection of Enlightenment values.
  3. varoufakis123_China PhotosGetty Images_chinayuandollar China Photos/Getty Images

    China’s Trump Dilemma

    Yanis Varoufakis

    Will the China hawks in Donald Trump’s administration railroad him into a confrontation that transcends tariffs and embraces financial sanctions of the type the US and the European Union imposed on Russia? If they do, China's leaders will have to decide whether to decouple from the dollar-based international monetary system.

    thinks the real choice facing Chinese leaders may be whether to challenge the dollar's hegemony head-on.
  4. lamy10_Badru KatumbaGettyImages_jackfruit_farmer Badru Katumba/Getty Images

    The Key to Narrowing the Development Gap

    Pascal Lamy, et al. explain how investments in African agri-food systems can advance many of the Sustainable Development Goals.
  5. galbraith39_rudall30Getty Images_businessmanforest rudall30/Getty Images

    Economists’ Way Out of the Wilderness

    James K. Galbraith argues that the continued dominance of nineteenth-century thinking has resulted in a catalogue of failure.
  6. benami221_Justin SullivanGetty Images_trump Justin Sullivan/Getty Images

    Trump the Revolutionary Isolationist

    Shlomo Ben-Ami hears echoes of the Monroe Doctrine in the US president's threats to acquire Greenland.
  7. hubbard4_Chen MengtongChina News ServiceVCG via Getty Images_scottbessent Chen Mengtong/China News Service/VCG via Getty Images

    How the Trump Administration Can Hit Its Growth Target

    Glenn Hubbard urges policymakers to focus on the three pillars of increased productivity.
  8. oneill129_Saul LoebGettyImages_us_treasury Saul Loeb/Getty Images

    Trump’s First Test Will Be the Bond Market

    Jim O'Neill wonders if recent market signals will keep the new administration’s radicalism in check.
  9. ahzhang19_Jaap ArriensNurPhoto via Getty Images_tiktok Jaap Arriens/NurPhoto via Getty Images

    The TikTok Boomerang

    Angela Huyue Zhang thinks the US government's ban on the app has left it in an untenable position.

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