This morning, SFI/@Yale economist John Geanakoplos speaks to our #ACtioNNetwork, using the leverage cycle as a lens to assess the state of the #COVID19 economy. For more info on this event and how to join in on future #AppliedComplexity talks: santafe.edu/events/leverag…
“The economics do not rationalize so many great universities stopping graduate admissions, stopping hiring, freezing salaries...it’s very strange, and it’s as if the administration has displaced the faculty or reimagined what the point of the university is.” – John Geanakoplos
“What caused the 2007-2009 crisis? Greed and dishonesty? No, people have been [that way] for a very long time. And panic? No. When a ship is going down, people are panicked, but that didn’t cause the ship to sink.” – SFI External Prof John Geanakoplos santafe.edu/action
“Even Shakespeare knew about leverage and exposure to risk. His father was put on trial for issuing loans at too high an interest rate.” – SFI External Prof John Geanakoplos (@Yale) santafe.edu/action #AppliedComplexity
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