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Curated by Project Syndicate

The Lehman Legacy

11 commentaries

The collapse in 2008 of US investment bank Lehman Brothers triggered the worst financial crisis since the Great Depression, with millions still suffering from the economic downturn and high unemployment that followed. Why, five years later, has regulatory reform lagged and economic recovery remained elusive?

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  1. Did Capitalism Fail?
    People walk past the New York Stock Exchange Drew Angerer/Getty Images

    Did Capitalism Fail?

    Sep 13, 2013 Roman Frydman & Michael D. Goldberg argue that 2008's near-meltdown was a failure of contemporary economic models' understanding of the role of financial markets in capitalist economies.

  2. Five Years of Financial Non-Reform
    pa3437c.jpg Paul Lachine

    Five Years of Financial Non-Reform

    Sep 13, 2013 Anat Admati on the politics of banking regulation.

  3. Learning from Lehman
    pa1422c.jpg Paul Lachine

    Learning from Lehman

    Sep 11, 2013 Liu Mingkang

  4. The Failure of Free-Market Finance
    pa3850c.jpg Paul Lachine

    The Failure of Free-Market Finance

    Sep 4, 2013 Adair Turner

  5. Lehman’s Morbid Legacy
    tb0439c.jpg Tim Brinton

    Lehman’s Morbid Legacy

    Aug 27, 2013 Mohamed A. El-Erian

  6. The Global QE Exit Crisis

    The Global QE Exit Crisis

    Aug 26, 2013 Stephen S. Roach

  1. bp immigration Photo by Brandon Bell/Getty Images

    The Immigration Tinderbox

    In the United States and Europe, immigration tends to divide people into opposing camps: those who claim that newcomers undermine economic opportunity and security for locals, and those who argue that welcoming migrants and refugees is a moral and economic imperative. How should one make sense of a debate that is often based on motivated reasoning, with emotion and underlying biases affecting the selection and interpretation of evidence?

  2. arezki19_MARCO LONGARIAFP via Getty Images_senegalelection Marco Longari/AFP via Getty Images

    Senegal’s Election and Africa’s Future

    Rabah Arezki considers what Bassirou Diomaye Faye's presidency could mean for one of Africa's most closely watched democracies.
  3. disparte5_ Kevin DietschGetty Images_FSOC Kevin Dietsch/Getty Images

    America Must Lead on Crypto Regulation

    Dante Alighieri Disparte

    To maintain its position as a global rule-maker and avoid becoming a rule-taker, the United States must use the coming year to promote clarity and confidence in the digital-asset market. The US faces three potential paths to maintaining its competitive edge in crypto: regulation, legislation, and designation.

    urges policymakers to take decisive action and set new rules for the industry in 2024.
  4. gul6_Hasan MradDeFodi Images via Getty Images_ghannouchi Hasan Mrad/De Fodi Images via Getty Images

    Rached Ghannouchi’s Plight Deserves More Attention

    Abdullah Gül decries the prosecution and imprisonment of Tunisia's widely respected avatar of Islamic democracy.
  5. okonjoiweala27_GIUSEPPE CACACEAFP via Getty Images_WTO13ministerialconference Giuseppe Cacace/AFP via Getty Images

    WTO Reform Is Everyone’s Responsibility

    Ngozi Okonjo-Iweala

    The World Trade Organization’s most recent ministerial conference concluded with a few positive outcomes demonstrating that meaningful change is possible, though there were some disappointments. A successful agenda of reforms will require more members – particularly emerging markets and developing economies – to take the lead.

    writes that meaningful change will come only when members other than the US help steer the organization.
  6. bloomberg7_Chris HondrosGetty Images_UScaloriesmenu Chris Hondros/Getty Images

    What Can Stop the Shortening of American Lives?

    Michael R. Bloomberg shows how a loss of public trust in public-health professionals is undercutting US life expectancy.
  7. roach163_ROBERTO SCHMIDTAFP via Getty Images_mikegallagher Roberto Schmidt/AFP via Getty Images

    American Sinophobia

    Stephen S. Roach warns that fear has driven US policymakers to level a litany of unsubstantiated charges against China.
  8. kabubomariara2_Gerald AndersonAnadolu Agency via Getty Images_motherkenya Gerald Anderson/Anadolu Agency via Getty Images

    Africa’s Prosperity Depends on Achieving Gender Equality

    Jane Kabubo-Mariara outlines steps policymakers can take to redistribute unpaid domestic work among households and communities.
  9. lacroix2_ Michael GonzalezGetty Images_texasUSflags Michael Gonzalez/Getty Images

    Texas and the Perpetual Crisis of American Federalism

    Alison L. LaCroix highlights the constitutional threat posed by the state's attempt to impose its own immigration policy.

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