Greetings!
In this month's Inspiring Ideas we focus on the economy and economics. Including perspectives from three Nobel Prize winners (among others), we get insights into the outlook for the US economy, financial innovation and some of the ways that practices from the academic field of economics can be applied to the world of business.
Chris Stanley – Editor HSM Inspiring Ideas
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Tips from the Top
As a world renowned economist, Steven Levitt has never been interested in the same questions as other economists. His work is based on studying unconventional economic topics such as crime, drugs, politics and sports. In his bestselling books Freakonomics and SuperFreakonomics he challenged the way we think, answering tough and unexpected questions most academics haven't even dared to ask. Click here to read some of the insight from today's most politically incorrect economist.
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Million Dollar Tales
Conceived in July 1944 in the small New Hampshire town of Bretton Woods in the USA, the International Monetary Fund was to form part of a new framework for international economic cooperation established after the Second World War. This framework was designed to avoid a repetition of the disastrous policies that had contributed to the Great Depression. Much has changed since the days of Bretton Woods but over the years the IMF has been a frequent player in the global financial system, stepped in on various occasions to stabilize the world economy. Oil price shocks, the fall of communism, and the Asian financial crisis have been just some of the events that have precipitated the intervention of the Fund. Frequently controversial conservatives have denounced the IMF's role in bailing out investors, while liberals assailed its austerity measures imposed on several troubled economies. [Read +] |
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DELVING DEEPER
In the debate as to how to best confront the unprecedented challenges that have ravaged the global economy in recent years, Joseph Stiglitz's voice has been one of the most provocative and influential. In this interview with HSM, the Nobel Prize winning economist discusses the US government's response to what he has termed “The Great Recession,” the biggest risks still facing the US economy and provides his own insights into what he believes should be done to ensure future growth.
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| How “YES” are you on the Journey to Sustainability? |
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Take the Yes Test and find out your score.
Profitability and sustainability go hand in hand. Simple steps. Practical actions. Smart organizations are walking the talk. You can, too. |
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| MULTIMEDIA TOOLBOX |
 VIDEO While innovation in business is generally hailed as a good thing, in the financial arena it has come under severe fire as hard to comprehend innovations such as CDOs and CDSs derivatives were widely blamed for the financial crisis. Speaking here to the Financial Times' Gillian Tett at last year's World Business Forum in New York, Paul Krugman discusses how he feels financial innovation should be managed. [watch video] |
| VIDEO While profit maximization is still seen as the ultimate goal for most businesses, here Nobel Prize winner Muhammad Yunus sets out the case for “social business” where making money is just one dimension of what the business sets out to achieve. [watch video] |
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| HSM NEWS |
NEW! World Business Forum Webcast
The World Business Forum live and on–demand from the comfort of your home or office |
The World Business Forum has just launched a webcast version live and on–demand. A great way to give anybody, from anywhere in the world, access to the biggest business event in the world. Watch the presentations live as they unfold at the Radio City Music Hall on October 5th–6th.
Register soon. We are only a few days away from the conference.
Webcast Offer: $399
Speakers included in the Webcast:
A.G. Lafley | James Cameron | Charlene Li | Martin Lindstrom | Jim Collins | Joseph Grenny | Joseph Stiglitz | David Gergen | Jack Welch | Steve Levitt | Vijay Govindarajan | Nando Parrado | Bill McDermott | Carlos Brito
Click here to register or visit www.wbfny.com/webcast to learn more. |
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If you are registered or have come to the World Business Forum in past, HSM invites to join The World Business Forum group. This networking group is designed to enhance the acquiring and sharing of knowledge among World Business Forum participants.
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To sign up to The Global Leaders and join The World Business Forum group in one step, click here. (Use code HSM1 when registering) |
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| RECOMMENDED READING |
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LORDS OF FINANCE
By: Liaquat Ahamed |
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“A magisterial work... You can't help thinking about the economic crisis we're living through now.”
– The New York Times Book Review |
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