Experience Stern | News & Events

Excerpt from City Journal -- "Across the world, public safety is the most important task facing city governments. In many poor countries, crime holds back the kind of urbanization essential for economic development."

Excerpt from HuffPost Live -- "'What is not surprising is that when you make a big change in the way things are organized, there's a lot of bumps along the road until you find a new path,' Spence said."

Excerpt from CNBC -- "'I worry that this is going to be a gradual process and China is not going to rebalance fast enough, compared to what is desirable and optimal, and therefore the risk of a potential hard landing have not been totally, actually cleared yet,' he said."

Excerpt from The Wall Street Journal -- "Haidt reports on the following experiment: after determining whether someone is liberal or conservative, he then has each person answer the standard battery of questions as if he were the opposite ideology. So, he would ask a liberal to answer the questions as if he were a 'typical conservative' and vice-versa. What he finds is quite striking: 'The results were clear and consistent. Moderates and conservatives were most accurate in their predictions, whether they were pretending to be liberals or conservatives. Liberals were the least accurate, especially those who describe themselves as "very liberal." The biggest errors in the whole study came when liberals answered the Care and Fairness questions while pretending to be conservatives.'"

Excerpt from The Guardian -- "Regular commerce, too, used to be based on trust, notes Arun Sundararajan, a professor of information, operations and management sciences at New York University's Stern School of Business, who recently testified at the first hearing of the US Congress on the sharing economy. 'You traded with people within your group. Today, we're replicating that on scale in the sharing economy. Over time we've built up a commercial infrastructure of licenses and so on which, for example, makes staying in a hotel a small risk. We're still in the early stages of that kind of infrastructure being developed for the sharing economy.'"

Excerpt from The New Yorker -- "But, if wealth fostered happiness, it appeared to drain meaningfulness. Between ninety-five and a hundred per cent of the respondents from poverty-stricken Sierra Leone, Togo, Kyrgyzstan, Chad, and Ethiopia reported leading meaningful lives. Only two-thirds of the respondents in Japan, France, and Spain believed their lives had meaning."

Excerpt from CNBC -- "The most effective activities are those where people have to work interdependently and rely on each other in order to achieve the outcome, said Beth Bechky, a professor of management and organizations at the New York University Stern School of Business. One of her favorite exercises is to have teams build tents together blindfolded. It's a good task, she said, because they realize it's only possible to do this as a team, and they have to rely on each other in intimate ways."

Excerpt from San Jose Mercury News -- "One expert isn't convinced Icahn has much of a chance. Shareholders, said Scott Galloway, professor of marketing at NYU Stern, don't revolt over 'financial engineering.' Apple reports earnings Monday and Cook may address Icahn's proposal."

Excerpt from Forbes -- "A brilliant study by economists from the Stern School of Business and Harvard Business School, Alexander Ljungqvist, Joan Farre-Mensa, and John Asker, entitled 'Corporate Investment and Stock Market Listing: A Puzzle,' offers confirmation. The study compares the investment patterns of public companies and privately held firms. It turns out that the lag in investment is a phenomenon peculiar to public companies."

Excerpt from Bloomberg -- "They're going to have to figure out a way to raise prices across a segment of consumers. They're going to start segmenting their high-end consumers and charging them more."

Excerpt from Bloomberg -- "If anything, the concerns raised are, did he go too far? Did he push the envelope in a way that he is going to offend the hardliners and maybe cause some instability in Iran? Iran has an economy of 80 million people. It's diverse. It has a civil society. Women are educated. It's a place that doesn't work well with a theocracy."

Excerpt from Project Syndicate -- "Labor-saving technology and shifting employment patterns in the global economy’s tradable sector are important drivers of inequality. Routine white- and blue-collar jobs are disappearing, while lower-value-added employment in the tradable sector is moving to a growing set of developing economies. These powerful twin forces have upset the long-run equilibrium in advanced economies’ labor markets, with too much education and too many skills invested in an outmoded growth pattern."

Excerpt from Bloomberg -- "The worst of the crisis is behind us in terms of financial risk...However, I would say growth is going to improve in advanced economies, better in the US and UK, still weaker in the eurozone and Japan. I don't think that growth in advanced economies is going to be above potential. It's going to be better than the last few year, but still barely at potential."

Excerpt from Inc. -- "'People are often bad judges of their own motives and behavior. We are really good at fooling ourselves and not so good at keeping our resolutions,' Haidt says. 'A wise leader will accept flaws of human nature, accept that we are not perfectly rational, benevolent creatures and will therefore design a company that works with human nature to get the best behavior from everyone, including him or herself.'"

Excerpt from Financial Times -- "Michael Spence, professor at the Stern School of Business, New York University said rising gaps between the rich and the poor matter 'because social and political cohesion and functionality can break down and you don’t know when it is going to happen.'"

Excerpt from The Huffington Post -- "The US is in what might be termed a partial recovery: growth at 1.5 to 2%, well below potential but a lot better than zero. This is being driven largely by the private sector, a flexible and dynamic economy and one that is shifting its resources at the margin toward the tradable sector where demand is not (or is less of) a constraining factor. Fiscal drag is significant and uncertain because the resolution of an ongoing sequence of budget standoffs is not known."

Excerpt from Bloomberg TV -- "When I got out of business school, the majority of us did pretty well. We made good livings. And now I think the term is, 'it's never been easier to be a billionaire.' Someone in my class of 130 kids, either through alternative investments, or getting on the right technology train...there's a decent chance we'll have a billionaire in those 130 kids in the next ten years. I think also a third of them are going to end up living at home at some point. They're not going to get onto the right job path, not get the right skills, they're going to have student debt that's going to get in the way of them taking risks, and there's a good chance they're really going to struggle. So it's never been harder to be a millionaire in the US, but it's never been easier to be a billionaire. We have this bifurcation of unprecedented proportions."

Excerpt from CCTV -- "'It’s a very heady experience because everybody is very friendly, there is much less security between people than usually you would have between people at this level. And you meet people in different parts of the world stage that are doing different but very interesting things. Whether they are NGOs or government representatives or CEOs of companies,' said Robert Engle, finance professor at Stern School of Business."

Excerpt from AP TV -- "'The Baby Boomer story is a simple story. They look back to their past with rose-tinted glasses. Everything that happened when they were young was wonderful,' said Priya Raghubir, professor of marketing at New York University."

Excerpt from BBC News -- "Detroit's ties to the auto industry have also lent it an appeal as the 'real man's city', says Scott Galloway, who teaches marketing at New York University's Stern Business School. Detroit 'reeks grit and toughness', he says, an association that is strongly male but can appeal to both sexes. 'Associating with a product that makes you feel manly or masculine is an incredible asset, and right now there is no more macho city than Detroit.'"

Excerpt from The Economist -- “It has to be both narrower and stronger,' says Paul Romer of New York University."

Excerpt from Bloomberg -- “'A comprehensive and decisive AQR will most likely reveal a substantial lack of capital in many peripheral and core European banks,' the authors wrote, referring to the central bank’s Asset Quality Review stage of the Comprehensive Assessment."

Excerpt from Suddeutsche (translated from German using Google Translate) -- "[Sascha Steffen, professor at the European School of Management and Technology (ESMT) in Berlin] along with his colleague in New York, Viral Acharya, examines the stability of 109 of the 124 banks that will be reviewed this year by the European Central Bank (ECB) and subjected to a so-called stress test."

Excerpt from TIME -- "Roubini believes that the U.S. is going to grow about 2.5 percent this year, which is up from predictions of the last few years, but below the consensus. As incoming Fed chair Janet Yellen told me last week, she and the other Fed governors are 'hopeful that the first digit [of GDP growth] this year will be 3 rather than 2.' But neither Bremmer nor Roubini was hopeful that it would be enough to close the inequality gap in the US, one of the key goals for President Obama in the remainder of his term."

Excerpt from Fortune -- "'We won't see a hard landing this year,' says Roubini. 'But 50% of China's economic growth comes from the government. That's not sustainable.'"