Case Study : Global Financial Crisis

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Case Study Three: Global Financial Crisis Learning from Professor Solow All three experts had awfully thought-provoking notions about economic growth, inflation, policies, and development. Professor Solow talked about how economists tend to measure education by input not output, instead of worrying so much about the quantity of education we ought to be thinking about the content of the education (Solow, 2011). I found his suggestion about not focusing on the quantity of education but the output of education intriguing. Conceivably, developing a stronger bridge between employers and educational institutions could lead to a more positive and beneficial effect on the economy in a multitude of ways. Professor Solow, likewise, spoke about looking for new ways in which the government or private financial systems can be induced to extend credit to small or medium-sized businesses that cannot get it (Solow, 2011). The credit issue with the small and medium-sized businesses speaks volumes to its effect on the economy, hindering employment growth and obstructing consumer spending. I believe that the monetary policies that were in place before the crisis may not have been the best for our economy and require effective and efficient adaptations. As far as going forward where our monetary policy is concerned, I believe that we need to focus more in the terms of educational content on the matter in developing new policies to prevent future financial crises. Learning from Professor Stiglitz Professor Stiglitz’s discussion on inflation and its relationship with fiscal policy and monetary policy was significant to me. One thing that I learned from listening to Professor Stiglitz that really caught my attention was that government spending can a... ... middle of paper ... ... the breakdown in policies began. Focusing outside our own economy and relating its effect on surrounding economies is another method in recuperating from the crisis. I was able to learn comprehensively about how economic growth, inflation, policies, and development are all intertwined and each plays a part in the means to restoring the health of the global economy. References Solow, R. (2011, March 23). Robert Solow: New Ideas for a New World. [Video File] Retrieved April 17, 2016, from https://www.youtube.com/watch?v=-XVtyZknxks Spence, M. (2011, March 21). Michael Spence: New Ideas for a New World. [Video File] Retrieved April 17, 2016, from https://www.youtube.com/watch?v=NQ_6zgptcds Stiglitz, J. (2011, March 21). Joseph Stiglitz: New Ideas for a New World. [Video File] Retrieved April 17, 2016, from https://www.youtube.com/watch?v=kh6EHP7g-Mg
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