Knowledge at Wharton

The U.S. Federal Reserve Bank played a central role in mounting a response to the financial crisis of 2008. Battling unprecedented disasters the Fed responded with what experts describe as creative even heroic measures. But in the wake of that crisis the Fed faces new challenges including an increasingly critical Congress at a time when the central bank’s responsibilities have expanded in significant ways. Observers question whether the Fed can continue to effectively monitor the financial landscape while also keeping clear of the politicians in Washington.

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Each day workers in the health care field debate the most reliable course of action for treating a particular ailment. As part of U.S. health care reform new emphasis is being placed on comparative effectiveness research (CER) which pits remedies against one another to determine which is best. A new paper by Wharton professor Scott Harrington warns that the government should avoid developing a monopoly on CER and offers suggestions for sparking interest from private sector researchers.

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As the crisis at Japan’s crippled Fukushima Daiichi plant continues to unfold every bit of news that trickles out deepens the debate about nuclear energy. Anti-nuclear activists point to smoldering reactors and radioactive drinking water; others say the fact that the aging plant survived the earthquake and tsunami without greater damage signals its ability to withstand major disruptions. At issue is whether the expansion of nuclear power in the U.S. gets a green red or yellow light.

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By combining the might of Facebook with the narrative element of experiential computer games like Oregon Trail or The Sims social gaming developer Zynga was able to become one of the fastest-growing companies on the Internet. Andrew Trader was a member of Zynga’s founding team in 2007 and until last year served as executive vice president of sales and business development. Now an entrepreneur-in-residence at Maveron a venture capital firm Trader recently talked to Knowledge at Wharton about Zynga’s success and the rise of social gaming.

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While women have indeed come a long way since earning the right to vote in 1920 they still have not achieved wage and income equity compared with their male counterparts notes a government report released this month. The reason according to a series of speakers and panelists at the recent Wharton Women in Business Alumnae Conference 2011 is that women still need to assert themselves more when establishing work relationships seeking sponsors trying to make their presence -- and contributions -- known or negotiating for a raise. As one speaker noted: ”Women don’t ask.”

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Oil prices swung wildly this week rising to near 30-month highs after Saudi Arabia sent troops to Bahrain then plummeting to less than $100 a barrel on expectations that an earthquake-ravaged Japan would demand less oil. The ride is not over yet experts say. There may be ups and downs but long term high oil prices are here to stay. On top of volatility caused by natural catastrophes and political upheavals a tight oil supply and increasing demand promise to keep driving prices up steadily over time.

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The head of one of the world’s largest chemical manufacturers is calling for a new American revolution. Andrew Liveris chairman and CEO of Dow Chemical warns that the United States is heading for a dismal future if it does not wake up to global realities and rally to save manufacturing. During a recent speech at Wharton the Australian-born chemical engineer urged Americans to re-think their country’s approach to manufacturing government intervention and economic growth.

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It may be years before the costs -- human and economic -- of the devastating earthquake and tsunami on March 11 in Japan are fully known but they will be enormous. With thousands feared dead throughout the northeastern part of the country and officials scrambling to contain a nuclear disaster there are now more questions than answers. Knowledge at Wharton asked four experts to share their thoughts about the impact of the disaster.

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In three years as CEO of spice maker McCormick Alan D. Wilson has been charged with steering the company through difficult economic times and periods of extreme volatility in commodities prices. In a recent conversation with Knowledge at Wharton Wilson discussed McCormick’s efforts to expand internationally why the increased popularity of Food Network and celebrity chefs has been a boon and the company’s aim to create a relationship with customers by playing up ”the romance of spice.” 

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American International Group (AIG) -- the insurance giant and poster child for the financial crisis -- will once again sell its stock to the public in a ”re-IPO” set for May. The firm which was shaken by soured bets on mortgage derivatives says it is recovering from its near collapse and looking forward to a bright future. Can it return to its former glory? Or should its disparate operations be broken up? Most importantly: What does the AIG story say about how well the government handled trouble at a huge financial services firm whose missteps hurt so many innocent bystanders?

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