I have argued that we need livelihood insurance, which would protect people against the risk of seeing their skills and expertise no longer needed. Such insurance could be offered by the private sector.

As I write in 2012 we certainly do not believe that it is over yet, and the worst may be yet to come. Efforts by governments to solve the underlying problems responsible for the crisis have still not gotten very far, and the 'stress tests' that governments have used to encourage optimism about our financial institutions were of questionable thoroughness.

Somehow, talking to young students brings you back to reality - it should, anyway.

In the short run and for decisions unlikely to have broad impact, it may be more cost effective to use just one expert.

My clinical psychologist wife of 40 years has always had a close intellectual influence on me. When I was beginning to talk openly in the economics profession about irrationality in decision-making, I received a lot of criticism. Ginny would support my views and remind me that a whole other profession - psychology - studies people's irrational sides.

Life's meaning heavily benefits from lifelong bonds.

In the longer run and for wide-reaching issues, more creative solutions tend to come from imaginative interdisciplinary collaboration.