Credit crunch: the expert view

Credit crunch: the expert view

James K Galbraith

James K Galbraith won worldwide renown as a liberal economist

As the world's financial markets began to turn down, many leading economists spoke to the BBC about the credit crisis and what it means for global finance.

James K Galbraith talks about his father's interpretation of events leading to what is considered the anniversary of the Wall Street Crash of 1929.

Listen Listen to James K Glabraith (4 mins 38 secs)

Nobel prize-winning economist Paul Krugman gave his take on the situation - and explained how bad things are likely to get:

Listen Listen to Paul Krugman (5 mins 41 secs)

Director General of the World Trade Organisation, Pascal Lamy, predicts the effect the ongoing crisis will have on trade - the engine of the global economy:

Listen Listen to Pascal Lamy (3 mins 30 secs)


How have the world's traders got into such a mess?

Gillian Tett, Asia expert for London's Financial Times, says governments are being urged to learn the lessons of the Japanese economic collapse in the 1990s:

Listen Listen to Gillian Tett (1 min 40 secs)

Business correspondent Alex Ritson explains the key role that Credit Default Swaps have had in generating financial panic:

Listen Listen to Alex Ritson (1 min 40 secs)

Africa editor Martin Plaut looked at the how the world's poorest continent, Africa, will be affected by the global financial crisis:

Listen Listen to Martin Plaut (9 mins)

Professor Alec Chrystal looks at how the stock market functions - and why we need it:

Read Alec Chrystal on

And Michael Blastland, author of the book The Tiger That Isn't: Seeing A World Of Numbers, explains how bubbles are made - and why we are always doomed to see them burst:

Read Michael Blastland on

And you can read the latest thoughts of the BBC's business editor Robert Peston on his blog here:

Read Robert Peston's blog