Visionary Kushal Chakrabarti is providing a solution. design mind ON AIR’s Chris Sallquist spoke with Kushal, the founder and CEO of Vittana, a person-to-person micro-lending Web site that makes it possible for students, wanting to go to college in developing countries, to get loans.
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The collapse of the banking system explained, in just 59 minutes. Our crack economics team—the guys who explained the mortgage crisis, Alex Blumberg and NPR’s Adam Davidson—are back to help all of us understand the news. For instance, when we talk about an insolvent bank, what does it actually mean, and why are we giving hundreds of billions of dollars to rich bankers who screwed up their own businesses? Also, two guys go to New Jersey to look at a toxic asset.
Other shows on the financial crisis: Giant Pool of Money and Another Frightening Show About the Economy. And you can get daily updates about the financial crisis on Alex and Adam’s Planet Money podcast and blog.
Mike Munger of Duke University talks with EconTalk host Russ Roberts about microfinance. Munger argues that cultural forces make it difficult for some families to save, and the main value of microfinance is to allow a higher level of savings. Families are willing to save via microfinance even though returns can be negative. Munger argues that this counterintuitive result is possible when other means of savings are unavailable. Munger also discusses microfinance that is used for entrepreneurship and the potential role for microfinance in development.
Recorded on 8 May 2013 in Sheikh Zayed Theatre, New Academic Building.
The past few years have shown that risks in banking can impose significant costs on the economy. Many claim, however, that a safer banking system would require sacrificing lending and economic growth. Anat Admati examines this claim and the narratives used by bankers, politicians, and regulators to rationalize the lack of reform, exposing them as invalid. Admati calls for ambitious reform and outlines specific and highly beneficial steps that can be taken immediately.
Anat Admati is the George G. C. Parker Professor of Finance and Economics at Stanford’s Graduate School of Business. She serves on the FDIC Systemic Resolution Advisory Committee and has contributed to the Financial Times, Bloomberg News, and the New York Times. This event marks the publication of her new book The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It.