Introducing the 'First National Bank of Innovation'

Borrowing a page from the playbook of the Farm Credit System, Nobel Prize-winning economist Edmund Phelps outlines his idea for the "First National Bank of Innovation" in this video interview with The Deal magazine. We caught up with Phelps, who is the director of Columbia University's Center on Capitalism and Society, at the New York Forum. For more interviews from the international event, watch "Japan chills nuclear power around the globe," our video conversation with Oppenheimer Funds Inc. chief economist Jerry Webman, and "The hidden risk in a Greek default," our interview with Tufts University's Amar Bhidé. - Mary Kathleen Flynn

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