In light of the recent financial crisis Princeton’s David Miller is interviewed on PBS’s Religion & Ethics Newsweekly as they discuss issues including executive pay, current regulation and even a shift in business culture. Thanks to Mike Todd for pointing out this clip to us. Click here to view the interview.
Archive for the ‘Sub-prime’ Category
Morality and the Markets
Posted in Sub-prime, tagged Capitalism, morality on March 27, 2009 | Leave a Comment »
Reflections on the Current Economic Crisis Part Two
Posted in Sub-prime, tagged Capitalism, credit crunch, economic crisis, Economics, Recession, Sub-prime on February 20, 2009 | 2 Comments »
By Paul Williams
As argued in the previous post, the current sub-prime crisis is not simply a ‘sub-normal’ functioning of our economy, it is a sign that the way we have ordered our economy is ‘sub-human’. This is, I suggest, an incredible irony. Isn’t capitalism’s promise that through the exercise of personal freedom of choice in the market we will achieve progress and enter our future? Capitalism promised us this freedom yet it has led instead to stagnation, despair, and ultimately increasing enslavement.
The current attempts to resolve the crisis, from stimulus packages to bank bailouts, should make us feel that as a society we have not yet got to grips with the difficult questions that we need to grapple with. While some of the actions being taken are necessary to prevent an even worse catastrophe, they are merely attempts to prop up the system, to return as soon as possible to business as usual.
Reflections on the Current Economic Crisis Part One: Sub-prime: Sub-normal or Sub-human?
Posted in Sub-prime, tagged Capitalism, credit crunch, economic crisis, paul williams, Recession, Sub-prime on February 20, 2009 | 2 Comments »
By Paul Williams
Mainstream media analyses would have us believe that the current sub-prime crisis is ‘sub-normal’; a one-off, albeit rather large, blip that can be tackled by greater transparency in ‘securitized investment products’, learning from mistakes and tweaking regulation. If the government helps encourage the banks to restart lending, this golden era of economic growth can continue unabated.
This rather optimistic approach ignores the fact that banks, regulators and rating agencies have not merely dropped their performance, but have actively functioned to do the exact opposite of what they are supposed to do in a well functioning society.
Poor Old Donald Trump: Recession and Rising Inequality
Posted in Sub-prime, tagged Capitalism, Donald Trump, Inequality, Recession on February 17, 2009 | 12 Comments »
By Mark Sampson
Recently, I happened to watch an interview on a major television news channel with Donald Trump, the American celebrity-businessman. The interviewer carefully approached the topic of the current economic crisis. She delicately approached the question of how the recession has affected Trump’s enormous real estate portfolio and other [...]
