Wall Street never learnt its lesson

Ten years after the collapse of Lehman Brothers brought the American economy to its knees, many are asking an obvious question: When will the next financial crisis hit?

If one accepts the basic tenet developed by Harvard psychologist B. F. Skinner - that one learns from the consequences of one's behaviour - the answer is likely sooner rather than later.

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A version of this article appeared in the print edition of The Straits Times on September 15, 2018, with the headline 'Wall Street never learnt its lesson'. Print Edition | Subscribe