In April, seemingly overnight, the U.S. unemployment rate spiked by more than 10 points to 14.7 percent – a level this country hadn’t experienced since the Great Depression. The pandemic shocked the global economy, sparking a crisis at every level. The word that we turned to as a descriptor? “Unprecedented.” But what does “unprecedented” really mean in a world economy so fundamentally altered?
Join host Eric Talley, Isidor and Seville Sulzbacher Professor of Law and co-director of the Ira M. Millstein Center for Global Markets and Corporate Ownership, as he and his colleagues explore the challenges facing small businesses, essential workers, corporate boards, and financial institutions, and discuss the solutions needed to move beyond these unprecedented times.
Beyond “Unprecedented”: The Post Pandemic Economy is produced by the Columbia Law School Office of Communications, Marketing, and Public Affairs in conjunction with the Ira M. Millstein Center for Global Markets and Corporate Ownership.
Eric L. Talley, Katharina Pistor, and Michael J. Graetz 2020
The pandemic has brought with it financial and emotional stress for tens of millions of Americans. Will the global health crisis cement what Professor Katharina Pistor calls “feudal type of levels of economic... (Read more)
Eric L. Talley, Peter Conti-Brown, and Kathryn Judge 2020
The Federal Reserve’s awesome power to guide monetary policy and regulate financial institutions is often underappreciated. But the Fed’s actions will determine how quickly and effectively the United States rebounds from this economic... (Read more)
Eric L. Talley, Edward R. Morrison, and Kate Waldock 2020
When the pandemic shuttered businesses and triggered layoffs, an increase in bankruptcy filings seemed inevitable, and, sure enough, a number of household names, including Hertz and J. Crew, filed for Chapter 11. Is... (Read more)
Eric L. Talley, Lynnise E. Pantin, and Tim Wu 2020
“Everything Must Go.” “Permanently Closed.” “Space for Rent.” These signs of the time sum up the plight of many small businesses during the COVID-19 pandemic. While the federal government’s Payroll Protection Program and... (Read more)
Eric L. Talley, Ira M. Millstein, and Leo E. Strine Jr. 2020
The belief that a corporation’s highest purpose is to maximize profits for its shareholders, first articulated by economist Milton Friedman, has guided corporate behavior for half a century. Now, the COVID-19 pandemic, the... (Read more)
Eric L. Talley, Anu Bradford, and Petros C. Mavroidis 2020
The COVID-19 pandemic slammed borders shut and brought global trade to a near halt. Farmers plowed crops under. International tourism plummeted. Global supply chains ruptured. Even as trade begins to rebound, the realization... (Read more)