Does Crisis Make us Work Harder?
As the world awaits the tapering of the US cash stimulus, BBC Economics Editor Stephanie Flanders, is in Washington DC speaking to Joseph Gagnon, former financial adviser to the Federal Reserve, about what a reduction in quantitative easing will mean for jobs and emerging markets. One emerging market that has suffered a collapse in its currency's value is Indonesia, where the price of key imported goods like tofu, has risen sharply. Our tofu-addicted correspondent in the country, Karishma Vaswani, bemoans the shortages that have arisen there. And, we hear about new research from Christopher Stanton, a professor of finance at the University of Utah in the United States. His studies indicate that the fear of unemployment had made many workers work harder - especially those in states with high jobless figures. So is a financial crisis a cure for laziness?