How current state of capitalism impacted average americans

Reference no: EM13737252

Please write a paragraph summary the documentary "Inside Job" or "Capitalism: A Love Story."

Discuss the financial crisis and how the current state of capitalism impacted average Americans. Further, do you believe that there still is a middle class in the U.S.?

Be sure to consider the difference between positive and normative economics; that is what is versus what should be with respect to the differences between the films.

The financial crisis of 2008 was the biggest crisis and recession after the Great Depression of 1929. Though there were few other recessions in between (July 1981 - November 1982: 14 months; July 1990 - March 1991: 8 months and March 2001 - November 2001: 8 months) before the 08's recession but the 08's recession was the biggest as well as the longest and caused much more damage in terms of 8.8 million jobs lost, according to the Bureau of Labor Statistics, only in USA.

The main cause of such a tremendous effect was basically the "greed" of Wall Street financial bodies. Almost all of the Board members of the most important institutions tried to make as much profit as possible in exchange of the security and money of a common citizen.

Whereas the common citizens and retirees lost their savings these "corporate goons" fattened their wallets.

Reference no: EM13737252

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