StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The Anatomy of a Murder: Who Killed America's Economy - Research Paper Example

Comments (0) Cite this document
Summary
Date The Anatomy of A Murder: Who Killed America’s Economy? It is no doubt that the global economic crisis that occurred between 2007 and 2012 was the worst economic crisis after since the 1930s’ Great Depression…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.7% of users find it useful
The Anatomy of a Murder: Who Killed Americas Economy
Read TextPreview

Extract of sample "The Anatomy of a Murder: Who Killed America's Economy"

Download file to see previous pages ” attempts to explain who actually “killed” the America’s Economy and therefore should be blamed for the global economic crisis. In this article Stiglitz presents compelling arguments on who killed the economy based mainly on the notion of causation. He argues that in order to find out who killed the economy it is important to know what or who caused the crisis in the first place. According to him focusing on the notion of causation will not only help in fixing the current crisis, but also help to figure out how to prevent another crisis in the future. In the first part of the article, Stiglitz begins by noting that the notion of causation is complex as it not only involves the actions of the guilty parties but also on the behavior of others in the face of the actions of the guilty parties (Stiglitz 329). Stiglitz gives the issue an analogy of murder, which actually he has used in the topic of the article. He argues that when considering the case of murder the following persons should be identified: the person who pulled the trigger; the person who sold the gun; the person who paid the gunman; and the person who provided the victim’s whereabouts. This is crucial because all these persons are party to the crime. Therefore, Stiglitz argues that all parties, both institutions and people who were party to the causation of global economic crisis should be identified. ...
While the author believes that all the aforementioned parties contributed to the global economic crisis in one way or another, he believes that there are those who the blame should centrally be placed on; he says that “But I would argue that the blame should be centrally placed on the banks (and the financial sector more broadly) and the investors (Stiglitz 330).” This view is informed by his believe that the financial institutions and specifically the banks were supposed to be risk management experts, but they failed on this mandate. He vehemently disagrees with these institutions’ weak defense that it is their investors who made them to fail on their mandate. This is because the investors do not understand risk. In what Stiglitz refers as the “accessories to the crime” he points out banks were the main perpetrators of the crime, but with many accomplices. Stiglitz states that one of these accessories was rating agencies which greatly contributed to global economic crisis by providing ratings whose credibility were questionable. Another major accessory to this crime was the mortgage brokers who were less interested in originating good mortgages because they did not hold the mortgages for long. Besides, the author notes that home- equity loans encouraged customers to borrow against the equity thereby raising the total loan-to-value ratios which made mortgages to be more risky. The author also point out the regulators as being accomplices in crime. They did not recognize the inherent risks in the products that were being offered in the market. Also, they did not conduct their own risk assessments and were instead relying on credit-rating agencies or self-regulation (Stiglitz 332). He further argues that the financial regulators and regulation were not the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Anatomy of a Murder: Who Killed America's Economy Research Paper”, n.d.)
The Anatomy of a Murder: Who Killed America's Economy Research Paper. Retrieved from https://studentshare.org/macro-microeconomics/1453964-the-anatomy-of-a-murder-who-killed-americayies
(The Anatomy of a Murder: Who Killed America'S Economy Research Paper)
The Anatomy of a Murder: Who Killed America'S Economy Research Paper. https://studentshare.org/macro-microeconomics/1453964-the-anatomy-of-a-murder-who-killed-americayies.
“The Anatomy of a Murder: Who Killed America'S Economy Research Paper”, n.d. https://studentshare.org/macro-microeconomics/1453964-the-anatomy-of-a-murder-who-killed-americayies.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Anatomy of a Murder: Who Killed America's Economy

The Constitutions of the United States of America and the United Kingdom

The principal characteristic of a functioning democracy is the separation of powers. The concept of separation of powers is complex, although it may seem to be simple. This is because it consists of expressive and rigid components. The US Constitution represents the operational capability of the notion of separation of powers. It operates on three functions of the government. First, the executive implements legislation and supervises the administration over the state. Secondly, the legislature enacts the legislation and monitors the work of the executive and lastly, the judiciary interprets the legislations to apply land laws3.

The British Constitution is an unwritten constitution. Therefore, the limitations of the orga...
7 Pages(1750 words)Essay

S&T Debt Factors

The agreement contains a credit default contracts that include credit default swaps, default index contracts, credit default options, and credit default basket options. One can use these as part of the mechanism that is collateralized by debt obligations. The goal should be to establish a price for a given risk and controlling credit based on risk. The credit can be allowed by minimization of risk. Credit controllers should develop versatile tools that transfer risk away from a lender’s balance sheet.
d) With reference to the proposed debt counseling business, illustrate and explain exactly how you would organize the debt counseling operation, taking particular care to explain how and when you would receive payment for...
6 Pages(1500 words)Case Study

Effective Methods of Teaching Anatomy

Herein, comparisons will be made to highlight the differences in using anatomical models for study versus self-directed (usually textbook) learning. As well, the use of tutors as an advantage in the medical classroom will be discussed.

Some students are hands-on learners. For them, three-dimensional (3D) anatomical models are effective. “Exploratory tools enable users to investigate structures in ways not possible in the real world” (Implementing, para. 3). These 3D models can represent just about any part of the human body. Models are available of small structures, like the head, or of the entire human skeleton. Models of the entire human body can also be purchased. Some of them even have removable parts so...
6 Pages(1500 words)Report

Anatomy of Romance

Deception and Manipulation are the rules and multiple partners are acceptable alternatives. There is no room for jealousy, commitment, and strong emotional attachments. Agape love is other-centered and altruistic. It is non-demanding, caring and tolerant of the partner. Pragma is ruled by logic and reason. It is analytic and considers a lot of pragmatic reasons as a foundation of love. Lastly, Mania is the obsessive kind of love characterized by dependence, uncertainly, jealousy and emotional upheaval. The manic lover needs reassurance all the time that the partner loves him or her.
It suggested that the love style an individual is prone to in the early stages of a romance dictates his or her preferences for certain character...
12 Pages(3000 words)Annotated Bibliography

The Importance of Tourism to the World Economy

Since the eighties, perceived risk research has been of ongoing interest to tourism researchers, Dolnicar (2005) and Dickson, Chapman, and Hurrell (2000)  states. Contributions often include those which investigate positive risk as a factor in increasing tourists who are seeking a thrill. On the other hand, there are also those who view these risks as something negative, thus avoiding the destinations which are haunted by different risks such as diseases, terrorism and other forms of political instability (Dickson & Tugwell, 2000).

The current qualitative research inquired about the risks perceived by young people as regards both domestic and international traveling. A sample of 23 was interviewed for this purp...
15 Pages(3750 words)Research Paper

The Aspects of Creating America

It is a phenomenon that has existed since the beginning of the United States. In some ways, the fact of the phenomenon is explainable. At the time America began to be populated by Europeans, the written discourse had become the accepted means of communicating ideas, so it was only logical that the brave new American world would be written about and defined by its various inhabitants. Too, the advent of a truly new country, far from the Old World, created a shared experience among the settlers that bound them together more effectively than their European nationalities could do. Add to that the fact that most of the people brave enough to make the journey across the sea to the strange lands of peril and promise were by nature curiou...
7 Pages(1750 words)Term Paper

Characteristic of Murder Scenes in Literature

...The following work analyzes two murder scenes, one of which is extracted from chapter forty-five of Perfume, a novel written by Patrick Süskind, and the other from chapter eleven of Thérèse Raquin, one of Emile Zola’s most famous literary works. In Perfume, Grenouille, the main character, murders a young girl in order to extract her scent which forms the ultimate ingredient required to successfully create his exquisite perfume. The enchanting odour of this perfume would serve Grenouille’s goals as it would make him hypnotize people.On the other hand, in Thérèse Raquin,Thérèse ,an adulterous wife, gives her consent to Laurent, her lover, to kill her own husband,Camille,as he’s the osbtacle standing against their mariage. The similarities...
6 Pages(1500 words)Case Study

Normal Anatomy and Causes of Knee Arthritis

A complete loss of articular cartilage is noted resulting in soft, elasticity loss, and fibrillation of the articular cartilage leading to the burned bone that is devoid of cartilage (Schwartz et al. 1942; LeadingMD par. 2). Complete loss of articular cartilage results in narrowing of the joint space, bone spurs, motion loss, pain, and disability (Schwartz, et al. 1942; LeadingMD par. 2). Knee arthritis, that typically influences patients over 50 years old, affects all knee cartilage leading to biomechanical and biochemical changes that impairs cartilage function (LeadingMD par. 6).

Knee arthritis occurs as a consequence of an injury, surgical procedure that includes partial or complete removal of the meniscus cartilage...
8 Pages(2000 words)Term Paper

Effect of Corporations Moving Jobs Overseas on the Economy

The issue comes into focus, whenever there are political, economic debates or talks about H1B visa limits. The economic slowdown has further led to the intensification of these debates. But, despite apprehensions from different quarters, neither the companies nor the government has said a final word on the trend. Increasing levels of competition amongst the corporate houses have been one of the key highlights of the globalization era. Be it the retail sector, the banking, the automobile, the IT-enabled services, the white goods space, etc. the companies have always been on the lookout for reaching out to more number of customers while doing everything possible to please the existing lot. Leveraging the economies of scale has prove...
8 Pages(2000 words)Coursework

Effects of the United States of America Troops in South Korea

Despite the few negative incidences of crime committed by the United States of America’s security troops that were deployed in the country on a peacekeeping mission.
Since the war in Korea began in the early nineteen fifties, the United States has stationed tens of thousands of soldiers, mostly the United States’ army personnel, in South Korea. Through the assistance of the South Korean troops and other neighboring governments, the American troops have been able to guard and offer maximum security to South Korean people. In line with the argument of James (2003), ‘most of the military bases in South Korea are relatively isolated’ thus the need for much attention from the troops so as to ensure maximum...
10 Pages(2500 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic The Anatomy of a Murder: Who Killed America's Economy for FREE!

Contact Us