Ilseop Lim

“Coral Gables was successful from the start.”
― Barry Eichengreen, Hall of Mirrors: The Great Depression, the Great Recession, and the Uses-and Misuses-of History

“The received wisdom is that risk increases in the recession and falls in booms. In contrast, it may be more helpful to think of risk as increasing during upswings, as financial imbalances build up, and materializing in recessions.”
― Andrew Crockett

“the chapter explains the three-cascading-constraints perspective by walking through, in sequence, the situation where all three constraints were binding (before 1820), the situation where only two were binding (up to 1990), and finally, today’s situation where only one is binding.”
― Richard Baldwin, The Great Convergence: Information Technology and the New Globalization

“Given the high cost of moving ideas, the resulting spatial dispersion of production dampened innovation—both on the demand side and supply side.”
― Richard Baldwin, The Great Convergence: Information Technology and the New Globalization