Niall Ferguson: "Chimerica"
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Uploaded by carnegiecouncil on Dec 11, 2008
"Chimerica is a fantasy country that I dreamt up a couple of years ago. It's the economy you get when you add together China plus America. Chimerica has been, in many ways, the key to the way in which the world economy has worked in the past ten years," says Niall Ferguson.
This Carnegie Council event took place on November 20, 2008. For the full video, audio, and transcript, go to http://www.cceia.org
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great idea i have ever heard!!
hope it can solve the global economic recession.
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@nethrit me too, i get the term from that book also
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these credit crises are all orchestrated for the benefit of a select few with real power.
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@Aliothemage I don't think so. Ferguson has always had an admiration of strong market-driven economies like the UK or the USA.
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Is it me or does this gentlemen seem to harbor a hidden degree of eagerness at the fall of America's hegemony that might be quickened by the financial crisis?
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A1946,
Greed? Come on. Let the market dictate on pay. It sucks that an idiot movie star is making a ton of money but that's life.
In my view, we don't need more regulations. People need to do their homework and not rely on a broker or a rating agency.
Get rid of the credit default swaps because it gives an illusion of protection for investors. I guarantee you no investor would buy high risk financial products if credit default s didn't exist.
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eatandtravel
Western economics did not just happen, they evolved. It may well continue to evolve and imperfections will be minimized, you are right though as challenges occur we accept them but we must also manage them and minimize risk.
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We just have to accept the imperfections of western economics. No set of rules will prevent the next economic disaster.
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Rewarding failure, or other ideas of socialism, never works in the long term.
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hmmm... you're partly correct... however it takes creditors and debtors to make a credit crisis... the greedy people who spent themselves into the floor are partly to blame as well.
montyloree 3 years ago 10
I just read his book "The Ascent of Money". Wonderful tome. He has done a lot of research. I learnt a lot from it. Erudite fellow.
nethrit 2 years ago 3