Archive for August 30th, 2011

Why didn’t Canada have a banking crisis in 2008 (or in 1930, or 1907, or…)?

August 30, 2011

What a paper by the trio – Michael D. Bordo, Angela Redish, Hugh Rockoff (free version here).

Canada’s banking system has always been a case of owner’s pride and neighbor’s envy. It has had this history of having minimal impact of any global crisis on its financial system. And it is never really talked about much except during crisis. You hear about US banks, UK banks and even Europe U-Banks but not much about Canadian banks except when there is a crisis and they escape unscathed.

This paper tracks the reasons for Canada’s fin system. The answer is its history of financial regulation. US struggled to have a unified financial regulation and had multiple regulators and charters with powers divided between states and centre. Canada the federal had powers to regulate the financial sector and hence we have a much better and regulated financial system.

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How about giving Karl Marx a chance to save the world economy?

August 30, 2011

Move over Smith, Ricardo, Keynes and Friedman…Time for Karl Marx ideology to take over.

George Magnus,  senior economic adviser at UBS opines that we should look at lessons from Karl Marx to solve current economic woes.

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Essential Health System Design Innovation

August 30, 2011

A superb speech by Nachiket Mor. He continues his transition from a banker to a development expert.

There are some interesting facts on healthcare in India:

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