this time is different 800 centuries of financial folly Harvard University’s Kenneth Rogoff, author of the recent best-seller This Time Is Different: Eight Centuries of Financial Folly, talks about Standard & Poor’s decision to downgrade U.S. debt and its implications for the nation’s economy and central bank monetary policy. Rogoff also discusses the outlook for the global financial markets, China’s economy and European Central Bank monetary policy. He speaks from Boston with Susan Li on Bloomberg Television’s “First Up.”