What is Big Think?  

We are Big Idea Hunters…

We live in a time of information abundance, which far too many of us see as information overload. With the sum total of human knowledge, past and present, at our fingertips, we’re faced with a crisis of attention: which ideas should we engage with, and why? Big Think is an evolving roadmap to the best thinking on the planet — the ideas that can help you think flexibly and act decisively in a multivariate world.

A word about Big Ideas and Themes — The architecture of Big Think

Big ideas are lenses for envisioning the future. Every article and video on bigthink.com and on our learning platforms is based on an emerging “big idea” that is significant, widely relevant, and actionable. We’re sifting the noise for the questions and insights that have the power to change all of our lives, for decades to come. For example, reverse-engineering is a big idea in that the concept is increasingly useful across multiple disciplines, from education to nanotechnology.

Themes are the seven broad umbrellas under which we organize the hundreds of big ideas that populate Big Think. They include New World Order, Earth and Beyond, 21st Century Living, Going Mental, Extreme Biology, Power and Influence, and Inventing the Future.

Big Think Features:

12,000+ Expert Videos

1

Browse videos featuring experts across a wide range of disciplines, from personal health to business leadership to neuroscience.

Watch videos

World Renowned Bloggers

2

Big Think’s contributors offer expert analysis of the big ideas behind the news.

Go to blogs

Big Think Edge

3

Big Think’s Edge learning platform for career mentorship and professional development provides engaging and actionable courses delivered by the people who are shaping our future.

Find out more
Close

The Worst Financial Crisis Ever?

February 28, 2010, 2:57 PM
800px-mvc-017x3

On Tuesday, former Federal Reserve Chairman Alan Greenspan said that the financial crisis that triggered our current recession was "by far the greatest financial crisis, globally, ever." That's right, even worse that the collapse of the stock market in 1929, because for the first time short-term credit was "literally withdrawn." And with housing starts and car sales still "dead in the water," Greenspan said, we may not see a real recovery any time soon.

Greenspan is not alone in his dire pronouncements. Naked Capitalism has a long list of economists and bankers who think our current economic crisis could compare to the Great Depression, including current Federal Reserve Chairman Ben Bernanke, former Federal Reserve Chairman Paul Volcker, Nobel Prize-winning economist Joseph Stiglitz, and billionaire investor George Soros. While this downturn has not been as painful as the Great Depression, in part because we avoided some of the policy mistakes we made after the 1929 crash, this economic crisis itself may have been more severe. And it may take a long time for us to recover.

A large part of the problem is that, as Greenspan says—putting it mildly—the economic recovery is "extremely unbalanced." While the rest of the economy languished last year, Wall Street flirted with record profits, thanks largely to our bailout of the financial industry. While things would almost certainly be worse for the average American—might be be much worse, in fact—without the bailout, as I've written before, Wall Street has done little to stimulate the rest of the economy. It's not as easy to bail out the average American as it is to bail out large banks, but there's more we can and should do. The trillions of dollars American households lost during the crash have not come back. Unemployment remains at almost 10%, and economists expect next weeks' job report to show that the economy continued to lose jobs in February. Without new jobs and the wage growth that accompanies them, consumer spending—which accounts for about 70% of the economy—will remain weak. That means housing starts and car sales, which usually drive a recovery, will also remain weak. And that means this recession could last a long time.

 

The Worst Financial Crisis ...

Newsletter: Share: