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On the Other Hand

What’s happening to the global economy? Dozens of equity markets have fallen into bear territory. There’s solid job growth in the U.S., but China is struggling to avoid a hard landing. The Fed is confident enough to raise interest rates, but oil prices have crashed.

The atmosphere is one of profound uncertainty. “What makes these falling prices unnerving,” the New York Times says, “is that it’s hard to tell a simple story about what is driving them.”

What’s the worst-case scenario? “We might be at the edge of a global recession,” said Citibank’s Christian Schulz on Bloomberg. In the fourth quarter of 2015, global growth approached the 2% mark—and central banks have few options remaining. “It’s a vulnerable situation.”

The drop in equity markets may simply be a needed correction, the Economist noted. But, the magazine wrote elsewhere, “whether the market gyrations are rooted firmly in fundamentals or not, they could themselves be a source of economic instability…. A recession, after all, is nothing more than a rut of self-ratifying pessimism.”

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John Pepper
Former Chairman and CEO, P&G

Christopher Ross
Chief Information Officer, Mayo Clinic

Mary Ellen Iskenderian

Paul Tucker
Former Deputy Governor for Financial Stability, Bank of England; Senior Fellow, Harvard Business School

Zeev Neuwirth
Vice President of Clinical Effectiveness and Physician Affairs, Harvard Vanguard Medical Associates/Atrius Health

Colleen Briggs
Vice President of Financial Capability and Consumer Initiatives within Global Philanthropy, JPMorgan Chase & Co.

Peter Kassen


Linda Rottenberg
Cofounder and CEO, Endeavor; Graduate, Yale Law School

Professor Douglas Kysar
Joseph M. Field '55 Professor of Law, Yale Law School

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