3. Money, Credit, and Crisis

The financial crisis of 2008–2009 has antecedents in earlier crises, including the Great Depression. In order to understand how the current crisis arose, we must review the most fundamental principles of banking. Doing that, we find that the main service performed by banks is the creation of liquidity, a collective good that can be destroyed by the behavior of individual financial institutions. The key element in creating liquidity is the monetization of various types of collateral. When collateral takes the form of land or capital that turns over slowly, banks lose liquidity. That is why major banking crises have frequently been associated with real estate lending. The best way to restore health to the financial system is by restoring the principles of the "real bills" doctrine that requires loans to be self-liquidating.     

Erratum: VOL.6, NO.3, 1997

In this issue the paper entitled "The Greening of Industry for a Sustainable Future: Building an International Research Agenda", which appeared on pages 153-162, should have appeared immediately after the Greening of Industry Network Noticeboard.     

管理传道大师汤姆·彼得斯(3)

3 实施"混乱"理论 记住这一点:世上没有"杰出"的公司 四大问题:不可预见性、技术的进步、苛求的顾客、过时的设想 "在一个动荡不宁的世界"中实施管理的五项指导原则 把"热爱变化、杂乱甚至混乱"当做生存的先决条件 要善于创立定位恰当的市场并使你的产品和服务独具特色 问问你自己:你的企     

2008年第三季度城市地价动态监测报告

中国城市地价动态监测系统对全国重点地区和主要城市监测结果显示:2008年第三季度,地价总体水平保持上升,地价环比增幅较上年同期有所下降;除华北区外,各重点区域和主要分区地价环比增长率比上年同期均有下降;居住用地价格同比增幅高于同期新建商品住宅价格增幅。     

Infracapacitación,recuperación,pérdida del empleo y jubilación de trabajadores de edad en entornos de oficina. Estudio de cohorte prospectivo

Con una muestra de trabajadores de edad tomada del Maastricht Cohort Study, los autores investigan empíricamente la prevalencia y la evolución de la infracapacitación autopercibida y sus efectos en la necesidad de recuperación de los trabajadores, su riesgo de pérdida del empleo y sus intenciones de jubilación de 2012 a 2014. Encuentran la infracapacitación asociada a los dos primeros indicadores, pero no al tercero. Concluyen que es importante distinguir entre infracapacitación global o en determinadas competencias y que, en aras del empleo sostenible, conviene hacer un seguimiento del problema a lo largo de la vida profesional para intervenir a tiempo y evitar sus consecuencias.     

Integrating strategic cost management with a 3DCE environment: Strategies,practices, and benefits

The overall objective of this exploratory research was to examine the possible competitive advantages when organizations integrate strategic cost management into the simultaneous design of products, processes, and supply chains. The concept of concomitantly designing products, processes and supply chains is referred to by Fine [1998. Clockspeed. Perseus Books, Reading, MA] as three-dimensional concurrent engineering (3DCE). While many organizations have adopted concurrent engineering to design new products, few have simultaneously considered cost issues related to designing the supply chain. Fewer still were found to integrate strategic cost management with 3DCE. Thus a case study approach was deemed necessary. Based on case studies of five firms, a framework of testable propositions was developed. The initial findings indicated there is a positive relationship between the customer's and supplier's extent of participation in new product development, supplier development practices, and the integration of strategic cost management practices with 3DCE. The integration of strategic cost management with 3DCE should result in a higher level of operational performance in terms of product performance, supply chain responsiveness, and conformance to quality. Integration should also result in lower product and process costs, faster time to market, and fewer product launch problems. The overall result is a higher level of company performance and competitiveness.