The Next Economic Collapse Will Be Bigger
Nobel Laureate Paul Krugman reviews a new book on the history of overreach by American financial institutions and notes that each crash has been bigger than the last...
What's the Latest Development?
Reviewing Jeff Madrick's new book The Age of Greed, Paul Krugman says the nation's system of financial investment exists today largely as it did before the 2008 collapse of Lehman Brothers, et al. It has existed this way, without appropriate oversight, since the 1970s. And while our latest financial crisis has been billed as a freak accident, "it was, in fact, just the most recent installment in a recurrent pattern of financial overreach, taxpayer bailout, and subsequent Wall Street ingratitude. And all indications are that the pattern is set to continue."
What's the Big Idea?
There was not always a time when entire nations were put a risk because of financial investors' daring. After the Great Depression, financial regulation made banking safe and boring until the 1970s, when the industry began to get greedy and, lamentably, the government acquiesced. "What we have experienced is, in a very real sense, the triumph of Wall Street and the decline of America. ...even now we don’t seem to have learned the lesson that unregulated greed, especially in the financial sector, is destructive."
The surprisingly simple treatment could prove promising for doctors and patients seeking to treat depression without medication.
- A new report shows how cold-water swimming was an effective treatment for a 24-year-old mother.
- The treatment is based on cross-adaptation, a phenomenon where individuals become less sensitive to a stimulus after being exposed to another.
- Getting used to the shock of cold-water swimming could blunt your body's sensitivity to other stressors.
Maybe try counseling first before you try this, married folks.
Why self-control makes your life better, and how to get more of it.
(Photo by Geem Drake/SOPA Images/LightRocket via Getty Images)
- Research demonstrates that people with higher levels of self-control are happier over both the short and long run.
- Higher levels of self-control are correlated with educational, occupational, and social success.
- It was found that the people with the greatest levels of self-control avoid temptation rather than resist it at every turn.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.