The Phillips curve becomes the Phillips cloud with no inexorable trade-off between inflation and unemployment. Stanford finance professor John Cochrane disa

Clayton Christensen defines and delves into the core dilemma of corporate innovation with sustainable and disruptive advances. Clayton Christensen (2000)

Carmen Reinhart and Kenneth Rogoff delve into several centuries of cross-country crisis data to find the key root causes of financial crises for asset marke

New computer algorithms and passive mutual fund managers run the stock market. Morningstar suggests that the total dollar amount of passive equity assets re

Berkeley macro economist Brad DeLong sees no good reasons for an imminent economic recession with mass unemployment and even depression. The current U.S. ec

The Federal Reserve proposes softening the Volcker rule that prevents banks from placing risky bets on securities with deposit finance. As part of the po