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Posted: 21 Sep 2012 10:51 PM PDT
By
Simon Johnson, Peter Boone. Johnson is Professor of Entrepreneurship,
Sloan School of Management, MIT and CEPR Research Fellow. Boone is
Research Associate, Centre for Economic Performance, LSE. Originally published at VoxEU.Industrialised countries today face serious risks – for their financial sectors, for their public finances, and for their growth prospects. This column explains how, through our financial systems, we have created enormous, complex financial structures that can inflict tragic consequences with failure and yet are inherently difficult to regulate and control. It explains how this has happened and why there are more and worse crises to come.http://www.nakedcapitalism.com/2012/09/the-doomsday-cycle-turns-whos-next.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29
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