This paper by New York University’s Jonas Prager outlines the major changes in the financial structure as well as the focal events that characterised the 2007-2008 global financial crisis and considers the evidence for the crucial role played by misaligned incentives.
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Session videoA new future
The climate emergency is so large it requires a rewiring of the whole economic and financial system. But to do this new risk models are required and old paradigms must be abandoned to make way for a better way of understanding complex systems.