• The Costs of Bankruptcy

    The Costs of Bankruptcy

    Jiaping Qiu

    When a corporation declares bankruptcy, employee’s wages decrease significantly. This potential loss in earnings is significant enough that firms with a high risk of bankruptcy must pay their employees a higher wage to compensate them for the risky...

  • Understanding the Great Recession

    Understanding the Great Recession

    Alok Johri

    The Great Recession that began in late 2007 was the worst recession in the post-war era. A significant contributing factor was rapid innovation in the finance industry, which lead to expectations that could not be fulfilled.