Did deregulation cause the financial crisis essay

Did deregulation cause the financial crisis essay Did deregulation cause the financial crisis? essay Did deregulation cause the financial crisis? essayDo you think that the world is headed towards a cashless society within the next fifty years? Why or why not?In my opinion, the world will become a 99% cashless society within the next 50 years. In other words, cash will be replaced by more liquid, convenient and secure forms of payment. The recent trends towards a cashless economy already illustrate this situation. Many purchases are done using credit or debit cards; there also exist electronic checks, smart cards, electronic payment systems, digital currencies such as Bitcoin, etc. (OConnor Faile, 2010). There are instant payment systems such as PayPal allowing customers to make online purchases in a more secure and convenient way. The popularity of technology and smartphones open ways for NFC payments and other mobile payments. In this diversity of payment forms, cash might be the most inconvenient form it is insecure to keep large sums of cash, the banknotes might become shabby and lose their quality over time, etc. Therefore, more convenient and secure payment forms will eventually replace cash in the future.ReferencesOConnor, D.E. Faile, C.C. (2010). Basic Economic Principles: A Guide for Students. Greenwood Publishing Group.Discussion 2. Describe and critique the Fed’s use of quantitative easing.Quantitative easing is the policy of the Fed which is based on purchasing market securities and therefore decreasing interest rates. Due to the large inflow of capital provided by the Fed, the supply of money increases and therefore liquidity and lending are stimulated. This strategy is used when the economy is in a recession; quantitative easing stimulates lending, investment and spending because it becomes more beneficial to spend or to invest then to save. However, quantitative easing might become inefficient when interest rates are already low (like it is currently in the U.S. economy). Furthermore, quantitative easing might lead to the increase of i nflation if the speed of money supply increase is too quick. In addition, quantitative easing decreases the value of the dollar and makes the currency weaker.ReferencesMacroeconomic Analysis. (2013). Criticism of quantitative easing. Macroeconomic Analysis. Retrieved from http://macroeconomicanalysis.com/macroeconomics-wikipedia/criticism-quantitative-easing/Discussion 3. Deposit insurance can cause a moral hazard problem. Can deposit insurance also cause an adverse selection problem? Please explain.Yes, deposit insurance can cause an adverse selection problem in the banking industry. The problem is that deposit insurance might encourage risk-prone and careless people to enter the banking industry hoping that this insurance would cover the risks. In other words, those who would want the highest risks and would like to gamble with the money of depositors will be more likely to deal with deposit insurance. As a result, the banks present in the deposit insurance system will be more lik ely to have a negative net worth than other banks, which represents the results of adverse selection (Montiel, 2011).ReferencesMontiel, P. (2011). Macroeconomics in Emerging Markets. Cambridge University Press.Discussion 4. Is there a relationship between the unemployment rate and the inflation rate? Please explain.In the short-term, there is an inverse relationship between the unemployment rate and the inflation rate. Indeed, when unemployment decreases, more people have jobs, and therefore more people can afford buying various goods and services. The growth of demand in the short-term leads to the increase of prices, and therefore the growth of inflation is witnessed. If unemployment increases, the processes are reverse and the prices eventually tend to decline, causing deflation. The Phillips curve, which is an L-shaped curve, describes this relationship. However, in the long-term period the relationship does not hold as unemployment tends to reach the natural level, while inflat ion tends to the expected inflation level (Boundless, 2014).ReferencesBoundless. (2014). The Phillips curve. Boundless. Retrieved from https://www.boundless.com/economics/textbooks/boundless-economics-textbook/inflation-and-unemployment-23/the-relationship-between-inflation-and-unemployment-105/the-phillips-curve-399-12496/Discussion 5. Was the repeal of the Glass-Steagall Act one of the causes of the Great Recession? Please explain.No, the repeal of the Glass-Steagall Act was not one of the causes of the Great Recession (2007-2009). The crisis emerged largely due to risky operations with securities that were not covered by the Glass-Steagall Act. Banking companies engaged in risky practices selling derivatives and using risky lending practices which the Glass-Steagall Act did not regulate. In addition, a very limited number of companies used the repeal of the Glass-Steagall Act and combined investment with commercial banking (Calabria, 2009). In addition, the companies which were i n the center of the crisis were not the subjects of the Glass-Steagall Act, and therefore the repeal of this Act could not have affected their activity. Hence, the Glass-Steagall Act was not one of the causes of the Great Recession.

School as Democratic Institutions

School as Democratic Institutions Academic freedom is a freedom to teach or to learn without inference by a government. Read about the restrictions of the academic freedom at institutions. Hashtag: #DelhiDecides School as Democratic Institution A democratic society is one ruled by the people. Therefore, the people decide who will head their government such as the #DelhiDecides in India and can freely express their sentiments or criticism against anyone in the public service. In practice, this particular power in some country is limited to influential democratic institutions such as schools where academics cannot express their opinion on social issues regardless of their academic freedom. Institutions supporting democratic way of life are organizations that promote good governance, rule of law, human rights, preservation of the environment, education, and so on. News Media is a democratic institution that often elicits accountability from state actors; promote peace and human rights. Academic institutions, on the other hand, are moral and democratic as they developed students’ moral and civil character, and promote a sense of community and participation in democratic processes. In other words, news media and schools have the power to influence and modify a social order. Some academics are aware of their influence and exercise their freedom as citizens of the state to express their thoughts and opinions in and out of school. For instance, social media users are freely giving their opinions regarding the election in India where #DelhiDecides. Some of them were academics expressing their thoughts on political issues, criticizing candidates, and policies of the incumbent government. These practices are actually encouraged by the institutions as concerned citizens contributing to public debate. However, they should make it clear that their views are not of the institution but their own. Moral Failure in Academic Institutions Academic freedom, therefore, is merely a guarantee that academics are free to research and publish papers on issues they find disturbing without government intervention. It is not about resistance but the use of freedom for the public good through research, dissemination of knowledge, and promotion of independent thinking and expression within the academic atmosphere. Overlapping Rights and Politically Motivated Restrictions The confusion in academic freedom, particularly in higher education, is in the overlapping scope of academic democracy and academic freedom. For instance, the rights specified in the academic democracy that says â€Å"within academic sphere† limit the rights provided by academic freedom of free expression and academic participation in activities that can help expands the frontiers of knowledge. In other words, contrary to belief, they can freely express their opinion but on the institution or the system in which they work and nothing more. However, if one would look closely on the recommended universal application of academic freedom, it will be quite clear that academics have the right to participate and contribute to social change. The UNESCO recommendation clearly states that academics should enjoy civil and political liberties and these include freedom of thought, conscience, religion, expression, assembly, association, and the right to contribute to social change. Specifically, academics can express their opinion on state policies and issues particularly those affecting the quality of education. The extent of academic freedom, therefore, depends on state policies that are often highly political. In fact, the freedom of expression and association in academic sphere are restricted along with terms commonly used by some governments to imply severity of violation and punishment. These include suppressing freedom of expression for â€Å"public safety†, a political act â€Å"necessary in a democratic society†, and it is â€Å"prescribed by law† so do not talk against your government. Instead of letting academic intellectuals share their expertise as valued citizens of the nation, the government created a climate of fear.

Cosmopolitanism Must Be Left as an Individual Choice Essay

Cosmopolitanism Must Be Left as an Individual Choice - Essay Example New York, Hong Kong, Singapore, and Los Angeles as well as London are basic examples of "cosmopolitanized" cities around the globe embracing an eclectic mix of people with various cultures and traditions in a seemingly harmonious way. But this does not mean that there are no concerns being raised. In fact, elsewhere, discrimination still permeates even in highly cosmopolitan cities like New York where "cosmopolitan" lifestyle has been a trademark as against "other" cities. There exists a stark idiosyncrasy on perception of being a "cosmopolitan". Either one has embraced and integrated the word to one's own lifestyle or "tolerate" the existence of this culture, if it may be considered as such. The United States, for one, in trying to protect and allow all the Constitutional privileges of its citizens, which at present vary in their "origin" or nationalities has its scholars and thinkers argue on which must come first: the individual which is associated with liberal rights, or the group which also exercises their rights to organize as provided for by their liberal rights. Barry (2002) aptly argued in his "Culture and Equality: An Egalitarian Critique of Multiculturalism" book that "What we might find out by experience is that institutionalizing group representation offers opportunities and incentives for political entrepreneurs to whip up intragroup solidarity and intergroup hostility in the pursuit of power. And indeed this has happened all over the world virtually every time group representation has been introduced." Backed with empirical case studies as well as theories that made his presentation and argument not only convincing but powerful, his insights explored in depth religious and educational issues such as the case of Sikhs in Britain, Amish, and Quebec separatism. Without neglecting the rights of the members of minority groups, he calls to attention the reader to the concept of universal rights as "(universal) rules define a choice set which is the same for everybody; within that choice set people pick a particular course of action by deciding what is best calculated to satisfy their underlying preferences for outcomes uniform rules create identical choice sets, then opportunities are equal," (Barry, 2002). This goes to say that individual rights come first before group or collective choices. He implied that "rule and exception" approaches to public policy must encompass a universality that is applied equally among all citizens to remove the danger of protectionism and that the best way to help the least advantaged is by avoiding politics of difference and guaranteeing the full benefits of citizenship. Barry went on to add that "within a liberal state all groups are free to deploy their energies and recourses in pursuit of culturally derived objectives on the same terms." Likewise, The Wilson Quarterly (1995) quoted Dr. Samuel Johnson, who famously said "Patriotism is the last refuge of a scoundrel." Liberals were hailed to have gone further by embracing "all humankind " scoring on patriotic pride as "both morally dangerous and, ultimately subversive of

Asian Americans fighting for their rights Essay

Asian Americans fighting for their rights - Essay Example This essay discusses that the crucial moment in the forming of the model minority myth is the actual productivity of Asian Americans. And it is not the matter of race, but more of the upbringing: there is no belief among Asian American kids that the math is an inborn talent – everything can be learned. They strive harder than Whites do, become better, meet higher social expectations and have to strive harder – it becomes a vicious circle (The Model Minority Is Losing Patience). The issue is not in Asian excellence, but in the racial inequality that artificially creates seemingly equal conditions under the point that the measurement sample is White. This stereotype may sufficiently harm the Asian American students themselves.The model minority is a myth artificially inspired by the post-war times. This myth encompasses the variety of reasons: actual efficiency prescribed by both upbringing and cultural influence, the seemingly long-gone prejudice of the alien nature of A sians, the cultural-social urge to seek the living embodiment of the American dream, the racial bias of the society that allows the permission of not accepting students under their race, disproportional statistics conduction. The historical lesson accepted by American Asians taught them the things that White children have long forgotten –fighting. The actual situation regarding the social state of Asian Americans remains the same: they are the alien nation that strives to preserve the rights that are inherent to each American – but not to each Asian American.

Chavez V. Romulo Case Digest Essay Example for Free

Chavez V. Romulo Case Digest Essay FACTS: This case is about the ban on the carrying of firearms outside of residence in order to deter the rising crime rates. Petitioner questions the ban as a violation of his right to property ISSUE: Whether or not the revocation of permit to carry firearms is unconstitutional and Whether or not the right to carry firearms is a vested property right HELD: Petitioner cannot find solace to the above-quoted Constitutional provision.In evaluating a due process claim; the first and foremost consideration must be whether life, liberty or property interest exists. The bulk of jurisprudence is that a license authorizing a person to enjoy a certain privilege is neither a property nor property right. In Tan vs. The Director of Forestry, we ruled that â€Å"a license is merely a permit or privilege to do what otherwise would be unlawful, and is not a contract between the authority granting it and the person to whom it is granted; neither is it property or a property right, nor does it create a vested right.† In a more emphatic pronouncement, we held in Oposa vs. Factoran, Jr. that:â€Å"Needless to say, all licenses may thus be revoked or rescinded by executive action. It is not a contract, property or a property right protected by the due process clause of the Constitution.†xxx In our jurisdiction, the PNP Chief is granted broad discretion in the issuance of PTCFOR. This is evident from the tenor of the Implementing Rules and Regulations of P.D. No. 1866 which state that â€Å"the Chief of Constabulary may, in meritorious cases as determined by him and under such conditions as he may impose, authorize lawful holders of firearms to carry them outside of residence.† Following the American doctrine, it is indeed logical to say that a PTCFOR does not constitute a property right protected under our Constitution. Consequently, a PTCFOR, just like ordinary licenses in other regulated fields, may be revoked any time. It does not confer an absolute right, but only a personal privilege to be exercised under existing restrictions, and such as may thereafter be reasonably imposed. A licensee takes his license subject to such conditions as the Legislature sees fit to impose, and one of the statutory conditions of this license is that it might be revoked by the selectmen at their pleasure. Such a license is not a contract, and a revocation of it does not deprive the defendant of any property, immunity, or privilege within the meaning of these words in the Declaration of Rights. The US Supreme Court, in Doyle vs. Continental Ins. Co, held: â€Å"The correlative power to revoke or recall a permission is a necessary consequence of the main power. A mere license by the State is always revocable.†

Modernist Poets E.E. Cummings, Wallace Stevens, and T.S. Eliot Change t

Modernist Poets E.E. Cummings, Wallace Stevens, and T.S. Eliot Change the Face of American Poetry Modernist poets such as E.E. Cummings, Wallace Stevens, and T.S. Eliot changed the face of American poetry by destroying the notion that American culture is far inferior to European culture. These and other American poets accomplished the feat of defining an American poetic style in the Modern Era by means of a truly American idea. That idea is the melting pot. Just as American culture exists as a mixture of races, beliefs, and ideas, the new American style of poetry exists as a mixture of old English styles with a new concept of the international style. Modern poets experiment with language, theme, and convention to "cleanse language and culture of old and worn-out meanings, and introduce to poetry what is American in thought, sensibility, perception, observation, and diction [. . .]. [T]hey become exemplary of the modern endeavors of consciousness itself" (McQuade 1241). An important event that caused so many Modernist American poets to invoke the international style was the "expatriate immigration." Many American writers, artists, and musicians left for Europe, looking for new inspiration and fresh starts. Among those emigrating were Eliot, Pound, Hughes, Cummings, and Frost. Once in Europe, there writers were exposed to the new avant-garde art and poetry taking place there. At this time, the writers began to draw inspiration from and to imitate European writers. T. S. Eliot began to imitate the topics and tones of the French poets Charles Bauldelaire and Jules LaForgue, the latter for his bourgeoisie satire. Eliot's poetry written while in Europe displayed a satire that was foreign to American readers. Such is seen in "Th... ...ty at the time-to escape the expectations of a system which no longer works, to break free from the oppression of the social rank-and-file, and to gain true personal freedom. Works Cited Cummings, E.E. "[in Just-]." McQuade, et al. 2: 1419. -. "[she being brand]." McQuade, et al. 2: 1421. -. "[the Cambridge ladies who live in furnished souls]." McQuade, et al. 2: 1420. McQuade, Donald, et al. Ed. The Harper American Literature. 2nd ed. 2 vols. New York: HarperCollins, 1993. -. "The Literature of Modernism: Poetry 1912-1940." McQuade et al. 2: 1233-1242. Stevens, Wallace. " Anecdote of the Jar." McQuade, et al. 2: 1279. -. "The Plain Sense of Things." McQuade, et al. 2: 1286. Williams, William Carlos. "To Elsie." McQuade, et al. 2: 1304.

Can we trust our emotions in the pursuit of knowledge Essay

I feel that knowledge is learning or feeling something that you didn’t know before. The pursuit of knowledge comes through sheer experience. Knowledge surpasses formal schooling. Schooling is educational but neither textbook nor teacher can allow one to experience knowledge that is experienced when on a journey, a journey to explore new things. With emotion on will delve deep and learn more than ever opening up avenues never seen before. That is the pursuit of knowledge. With emotions aiding the pursuit of knowledge one will learn a broader spectrum of things. Using emotions in history and the arts is a trustworthy action. In history one will see that emotions are entwined in every story because that is what history is, a compilation of stories from different sources and point of views. Who’s to say what the truth in history is? Who is the judge on whether a historical account is true or not? No one is the judge. This is what makes the pursuit of knowledge in history a purely emotional experience. It is hard to really know what is true because in different cultures and regions of the world history is told from different angles. History that one learns in school is not told from different angles. It is told from an angle that portrays a certain attitude from the compiler of historical facts. Depending on what side you are on in history reflects the publicity of certain events. In schools certain topics are talked about more often, such as victories. Although the events in history may be emotional the pursuit of this knowledge is not emotional. It is only information; therefore, emotions should not be trusted when dealing with this type. Familial history is different for every person because everyone has backgrounds that are of many origins. When a person learns about their history it is many times oral history that has been told for generations. Oral history is bound to change dramatically because as the story is told, different variations and exaggerations are added. When one person tells a story one portion of the story may be enhanced and talked about more, but that parts that aren’t told as much may be the truth and most important parts of the story. Familial history is emotional. This history encompasses struggles and successes. Each thing that happens in a family’s history holds an emotional impact on the person or people that witnessed these things. Many times if the past is hard to talk about, due to heavy emotional impact, the story is changed or not reported. Tying emotions to pursuit of knowledge in history is unpreventable because history is an emotional subject. When a person sees art many emotions arise that causes wonderment. The journey to understanding what art is conveying is what brings forth emotion that lead one to understanding. African drumming and dancing is something that I grew up doing and listening to. In the beginning it was something that I did and never wondered about. After my retirement from drumming and dancing I saw a performance and it set me on a roller coaster of thoughts. Through the gyrations and deep thuds moving in synchronization I experienced something I never felt while playing all of those years. Through the drumming I felt the rhythm of my own heart and through the movements life was breathed into the auditorium. The swift and acrobatic movement represented structure and valor. The drums often turned into a rough chant that spoke belligerent tones and softened, as the movements became more fluid. The drums spoke and the movements of the dancer’s bodies told a story. Through emotions, art comes alive and new knowledge was gained from that single experiences. Because there is not a wrong answer in art it is often easier to trust emotions. Art is emotional. Emotional is what humans are; this makes us all artist. Because trusting emotions in art is simple one can challenge their mind and try to understand what is behind the art form. Through paintings and mixed media different thoughts could be conveyed according to what emotions it causes a person to have. The artist could have intended for it to convey one emotion when according to past experiences of the viewer it conveys a different tone. In the language arts†¦ Although one can trust emotions in the pursuit of knowledge one mustn’t trust emotion to validate knowledge. People have their own truths. Truth changes, but knowledge doesn’t. Truth changes because of a different perception that each person has. Truth is what we all believe to be valid. Knowledge is different in every person. The pursuit of knowledge is a journey. When the destination is met one can’t trust emotions to thread through the truths and falsifications, but trusting your emotions on the journey is definitely possible and makes the expedition unique to the traveler.