In 2013, a graduate student discovered a flaw in a spreadsheet, renewing the debate about austerity and debt. Emerging economies tanked, and Bitcoin boomed. In the U.S., unemployment fell and the Federal Reserve started to scale back its bond-buying program. Research focused on inequality and jobs gap between the highly skilled and everyone else. The Affordable Care Act began.
As Group of 20 nations look to China to underpin global growth, the Chinese anticipate their economy slowing, said Simon Johnson, a professor of finance at Massachusetts Institute of Technology’s Sloan School of Management.
Japanese Prime Minister Shinzo Abe’s policies to stem deflation and spur growth won’t be a “magic bullet” that shakes the nation’s economy out of stagnation, said Simon Johnson of the Massachusetts Institute of Technology.
How gloomy should we be about the European Union? Are its problems manageable, or is it headed for systemic collapse? My answer is yes -- the problems are manageable, and the EU’s leaders are behaving so recklessly that collapse is all too possible. I don’t know whether that makes me an optimist or a pessimist.
Former International Monetary Fund chief economist Simon Johnson met with Federal Reserve staff members today and said he doesn’t believe the central bank will heed his call to remove JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon from the New York Fed board of directors.
European sovereigns such as Ireland that are dealing with unsustainable budget deficits should restructure debt rather than seek international bailouts, said Massachusetts Institute of Technology professor Simon Johnson .