The scale of the challenge for change

Andy Wales, Matthew Gorman and Dunstan Hope

Chapter Chapter 1 in Big Business, Big Responsibilities, 2010, pp 17-28 from Palgrave Macmillan

Abstract: Abstract The global financial crisis that began in 2008 had at its roots a critical failure of central assumptions that underpinned many business models. One of these assumptions was the easy and continued access to cheap debt, which facilitated both the ballooning of sub-prime consumer debt and ambitious corporate finance deals. From UK bank RBS’ s expensive purchase of ABN Amro to Lehman Brothers’ bullish approach to mortgages, the system depended on cheap debt to grease the wheels of continual growth.

Keywords: Foreign Direct Investment; Business Leader; Social Entrepreneur; World Economic Forum; Global Environmental Policy (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28148-6_2

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DOI: 10.1057/9780230281486_2

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