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Finance

Assembling an Economy in Space

A mix of public and private investments are positioning the space economy for a period of growth and innovation, says Sven Eenmaa ’98, director of investment and economic analysis at the International Space Station U.S. National Laboratory.

Astronauts working on the International Space Station
  • Robert Shiller: Owning a Home Isn’t Always a Virtue

    In the New York Times, Professor Robert Shiller writes that the United States should reduce government subsidies for homeownership, while finding another way to promote household saving.

  • How much has investment banking really changed?

    The investment banking industry has been subject to new scrutiny, increased regulation, and changing capital requirements since the financial crisis of 2008. How much has this changed what bankers do? Yale Insights spoke with industry veteran Fred Terrell '82.

  • What are the forces changing the banking industry?

    John Shrewsberry, the president of Wells Fargo Securities, outlines how government regulation and the ongoing tight credit environment are affecting the banking industry—and how big banks can keep up with the rapid pace of change today.

  • What are the realities of microfinance?

    New research is debunking myths about microfinance and showing how organizations can effectively address problems associated with poverty. Yale faculty Dean Karlan, Tony Sheldon, and Rodrigo Canales discuss the problems and the promise in the field of microfinance and the lessons for other kinds of social enterprise.

  • Does focusing on shareholder value hurt shareholder value?

    Shareholders own the corporation, so managers should maximize returns for shareholders, right? Corporate law expert Lynn Stout says that there are problems with this argument, starting with the fact that legally shareholders don't own a corporation. On top of that, she says, prioritization of shareholder value harms returns in the long run.

  • Where does securitization stand?

    Yale SOM finance professors Frank Fabozzi, Gary Gorton, and Will Goetzmann discuss what caused the financial crisis, what we have learned since then, likely impacts of the financial reform legislation, and proposals to address unresolved issues in the housing and securitization markets.

  • Can a bank serve its community?

    Mary Houghton is the president and co-founder of the ShoreBank Corporation, the largest and oldest community development bank in the country. She talks with Qn about how banking can be a powerful for-profit social venture.

  • Is risk rational?

    Misunderstanding of risk was a major factor in the subprime crisis and ensuing recession. Andrew Lo argues that one has to look at both logical and emotional parts of the brain to grasp how people respond to financial risk.

  • What's the lesson of Iceland's collapse?

    Iceland may have been a forerunner of 21st century financial trends. First it profited from increasing integration with the global financial system. Then ties to the world economy helped pull it into fiscal ruin. What can an island with less than .005% of the world’s population teach us about globalization?

  • How does a sovereign wealth fund operate?

    Sovereign wealth funds have become a source of controversy. They have the size — several trillion dollars and growing — to swing or stabilize markets. Meanwhile, their sometimes secretive strategies have invited worries that they could be used as tools of government policy. Jeffrey E. Garten, former SOM dean and former undersecretary of commerce for international trade, talked to Ng Kok Song, the managing director and group chief investment officer at the Government of Singapore Investment Corporation, about how one of the world’s largest SWFs is run.