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Financial crisis trigers next move in economics


The financial crisis has opened up some next generation study move which has not been touched upon in the tradition study of economics, according to the economist Joseph Stiglitz.

  1. the network interact relations, namely the study of interdependency between financial institutes.
  2. Behavioral economics or sociology of economics side – study of ways people do not behave according to rationality

The first topic falls into Macro economy. It might link to us individual by getting a touch upon the upsets of many of us toward the financial crisis, ‘… while this is not my fault and yet I’m paying for it!’ If it’s any comfort, hopefully it will help us to understand how some Wall street greed quickly spreads to every corner whereas could not be stopped by just ‘cutting off the bad arm’.

The second could be more related to us. Why have we always to say ‘oh I shouldn’t have spent(or saved) more’ ? If you are interested in the topic, welcome for comments.

Watch the video.

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