Why did financial institutions nearly collapse world economy

Assignment Help Other Subject
Reference no: EM131444980 , Length: 7

Paper Two

[T]he path forward is clear, if not exactly easy: we need to bring about a social order that combines the best things about each era of equality, one that shrinks the yawning social distance that now makes elite failure inevitable. (220)

Equality is never a final state, democracy never a stable equilibrium: They are processes, they are struggles. (Hayes, The Twilight of the Elites240)

One thing that writers and researchers do at the end of articles and books is speculate on the future. The whole point of research is to learn, to create knowledge, and to show a "path forward." Most research involves:

• Asking and answering questions (e.g., Why did financial institutions nearly collapse the world economy in 2008? Can the same thing happen again?)

• Looking for connections that help explain what we observe (e.g., How was the 2008 financial crisis similar to the Great Depression? How was it different? How do we account for those points of comparison?)

• Studying cases to arrive at a new hypothesis for what went wrong and to develop the key terms that are key to the argument we are making (e.g., credit default swaps, derivatives, subprime mortgage bubble, failures in financial regulation and deregulation).

• Considering the consequences of a course of action or a set of events-attempting to predict the future, given our decisions about "the path forward." (e.g., Under what conditions could it happen again? What has to change to avoid another crisis?)

Just as we can usually discover a writer's project by looking at the text's foreword, its introduction, or its first section or chapter, we can see this move to consider a "path forward" in the concluding section of the text.

For this paper, make sure you have read the final chapter of Hayes's book. Take a set of good notes that will help you understand his conclusion. He had made an argument about meritocracy and the failure of elites in the first decade of the 21st century. Then he has to explain: So what? Why does this argument matter to anyone? What is at stake?

Your Task

Research:For Paper Two, we will all work on the same case., one that will allow us to study the past and think into the future. Our subject is Hurricane Katrina, the deadliest natural disaster in the history of the U.S. Learn the basic facts of what happened, when it happened, where it happened, and what the observable consequences of the event were.

Then, investigate the debates among experts about causes, effects, and "the path forward." Pay attention to the how differing perspectives among experts lead to different explanations, interpretations, and potential solutions.

You will need to know not just about the hurricane itself, but about the history of hurricanes along the Gulf coast, and particularly the concerns about New Orleans. You will need to learn about the path of the storm, when and where it hit, and the various aspects of the situation that made it the costliest natural disaster in U.S. history.

Then you will need to look at what different experts have said about the storm-the politicians; Hurricane experts like Ivor von Heerden; the people from various federal agencies (FEMA, the National Hurricane Center; historians; scientists; the experts who compiled the Coastal 2050 study; the Congressional investigations into the disaster; psychologists who are experts in trauma, to name a few.

Once you have done your basic research, choose a focal point for your deeper research (development of wetlands, storms fueled by global climate change, the problem of evacuating the poor, "disaster capitalism," why FEMA failed, etc. Pay particular attention to how experts talk about "the path forward"-what they recommend, what they fear, what they argue over, and why. As you work, develop a thick Annotated Bibliography that will support your writing.

Writing: Write a paper in which you choose some aspect of the Hurricane Katrina disaster to investigate. Trace the historical roots of the problem, explain the factors that come together to create the situation you are studying, and go on to talk about how the situation can be prevented and whether steps have been made over the past decade to fix the problem. For example, the city of New Orleans flooded because the levees holding back water failed.

Why did that happen? What solutions have been proposed to prevent it from happening again? And what progress if any has been made since 2005? What, in your view accounts for that progress, or the lack of it? Is it possible to predict the future, based on what you learn in your research? (In the case of the levees, that answer is "yes.")

Your paper should be 5-7 pages, double spaced, in MLA format. Include in-text citations and an Annotated Bibliography.

Work Cited

Hayes, Chris. The Twilight of the Elites. Crown, 2012.

Reference no: EM131444980

Questions Cloud

Acceptance of interracial couples : Create a PowerPoint® presentation of 9 to 12 slides.  In the 2000 census, people of mixed-race were allowed to select more than one race for their racial category. This change reflected a national increase in:
Explain the difference between interval and ratio data : One of the products that Company W makes is snack foods. The research and development department of Company W has developed a new formula for one type of snack food that is cheaper to make than the current formula.
Write a literature paper on post partum depression : How to write a literature paper on post partum depression? What could I write about
Design and analysis of a new hydraulic brake system : Design and analysis of a new hydraulic brake system in automobiles - exercise your theoretical knowledge of fluid power system and skills in practical applications in the area of automobile engineering.
Why did financial institutions nearly collapse world economy : Asking and answering questions (e.g., Why did financial institutions nearly collapse the world economy in 2008? Can the same thing happen again?)Looking for connections that help explain what we observe (e.g., How was the 2008 financial crisis sim..
Discussing this developmental stage : Students must choose once theoretical perspective to discuss when discussing this developmental stage. Students will be graded using the rubric that can be found included in this course description and on blackboard.
Develop the algebraic model for goal programming problem : Problem Scenario: The ORSA MAC Widget Company produces three different widgets for use in ORSA MAC Math Programming Exams. The three widgets have resource requirements as follows.
Viewpoint of a person the behavior : Breaking norms behavior is a behavior is an act to accept the norms and from the viewpoint of a person the behavior is seem normal Some behavior is not seen normal to some people base on group, community and culture.
Develop matrix comparing norm and criterion-referenced test : Develop a matrix comparing norm and criterion-referenced tests. The matrix should include the following categories: Descriptions, Purpose of tests, Content Characteristics and Pros Test/score interpretations.

Reviews

Write a Review

Other Subject Questions & Answers

  What are the capabilities and limitations of intelligence

What are the capabilities and limitations of intelligence in supporting homeland security efforts

  What was the fact in this article that most intrigued you

What was the fact in this article that most intrigued you? Name one thing that was a bit unclear. Raise one question about a claim found in the piece

  What are the implications of terminating a policy or program

Complete the attached Implementing and Evaluating Public Policy simulation. What are the implications of terminating a policy or program being implemented in your neighborhood?

  Define the ethical duties of a trial lawyer

Define the ethical duties of a trial lawyer under the legal profession

  Different forecasting methods

How do different forecasting methods work together and against each other to affect the demand forecast? Make answer as brief as possible.

  Find the least-squares line appropriate

(a) Find the least-squares line appropriate for these data. (b) Plot the points and graph the line as a check on your calculations. (c) Calculate the 95% con?dence intervals for β0 and β1, respectively.

  Define the emergency planning and community right to know

1.identify innovative methods that are used by companies in order to keep their workers safe and healthy. how are these

  Do you think there are implications for participating

Do you think there are implications for participating in online social networks? If so what are they? for mehreen Gull

  Leonhardt main point or thesis

• What is Leonhardt's main point or thesis? • What points, details, examples are used to support his thesis?

  How has media coverage of terrorism

How has media coverage of terrorism and counter-terrorism changed? What role does the media play in counter-terrorism? What role SHOULD the media play

  A key legal or ethical issue affecting health care

For this final assignment, research a variety of integral concepts impacting the health care sector. Specifically, identify, explain, and discuss the following:A key legal or ethical issue affecting health care,A key advancement in research or tech..

  Pharmaceutical company astra zeneca

Rewrite the given document.-Case is based on pharmaceutical company Astra Zeneca.- AstraZeneca is active worldwide and employs over 65,000 people in over 100 countries and is the second largest pharmaceutical company in the United Kingdom.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd