Report relating to the recent financial crisis Essay

Report relating to the recent financial crisis - Essay Example A major strength in the author’s exposition is the manner in which he offers deductive analyses of situations, which makes it possible for the reader to connect the links between institutional practices and the resultant adverse effects on the American economy. In a significant sense, the author illustrates the manner in which the banking industry in America has used its immense financial resources to bankroll policies through calculated manipulation of Congress. The act of manipulation occurs through highly paid Ivy League economists and financial analysts who are paid large sums of money to give convincing but untruthful information about the matters of financial management and economic policies. As a result, it becomes appropriate to consider the fact that most of the issues raised by the author take a wide angle that connects the practices and policies of various institutions within a network that affirms the primacy of short-term financial gains over long-term policies by the corporate actors (Ferguson 44). The author makes the point that the various economic challenges facing America are derivative of the policies and practices adopted by Wall Street over the past decades. Fergusson enriches his arguments by roping in the changes in the legal framework, which have enabled private players in the economy to advance their private interests at the expense of economic growth. For instance, he cites the removal of the 1933 Glass-Steagall Act, had established and maintained some element of distinction between investment banks and commercial banks (Ferguson 51). The consequence of such actions were seen in a wide range of unethical and unprofessional business practices that included credit default swaps and other measures that had the long term effect of ruining many sectors of America’s economy. The book points out some of the major loopholes that have enabled the unethical practices to persist in the American economic environment are largely deter mined by various economic indicators that connect with the multiple issues on which the economic processes are based. In this regard, the book opens up a deep analysis of the unstable nature of the American economic systems in terms of their impact on the dependent economies. Bad corporate governance practices that thrive within the American economic system are explained in terms of non-existent of laws that would be relied upon to reign in the corporate culprits. On this particular matter, the author makes the case for the review of the current policies in the American economic sector for the purposes of instilling value and good corporate practices. Such practices, as the author argues, would shield the American economy from adverse effects such as those that were witnessed during the 2008 economic crisis. The crisis, according to Ferguson, was a culmination of years of corruption and institutionalized greed that have destabilized the American economic system and threatened the co untry’s economic power image in the world. The book offers projections about the possibilities of recurrent crises in the event that the United States does not review its policies by developing financial and economic safeguards to check against runaway corporate greed. An important aspect

Business Research Methods (SPSS) Essay Example | Topics and Well Written Essays - 3500 words - 1

Business Research Methods (SPSS) - Essay Example Generally speaking, a course of action that one intends to do will almost always be done (Ajzen and Fishbein 1975). The key addition present in the later Theory of Planned Behaviour as explained by Miller (2005) is that perceived behavioural control now comes into play. The reason behind said addition is that while people may really want to follow through on a certain course of action, they may lack the confidence or control to do so, or are otherwise being held back by other variables – to quote the Bible, ‘the spirit may be willing, but the flesh is weak’. An instance where this comes to play can easily be seen in the case of someone who tries and fails to diet. Only those who are disciplined enough can actually succeed in this endeavour; all too often, it is more likely that the person will eventually succumb to the temptation of bingeing. Clearly in this case, one needs the behavioural control to say ‘no’ to the seeming siren call of the buffet ta ble and to focus on his diet. In other words, it is not just one’s personal attitudes and perceptions that now decide what one is going to do. While these still count for something, and in fact are still the deciding factor in whether or not a certain action will be done, social pressures and one’s sense of control will now count for something as well. In this way, one’s decisions are no longer solely dependent on his own perceptions and feelings on the situation. Instead, one will now take into account how society views the respective choices at hand, and how well he can commit or follow through on a given outcome (Cooke and Sheeran 2004). The latter part is especially important – which is the reason for its addition to the theory in the first place. As mentioned by the aforementioned Bible verse, we may not always follow through on an action that we are inclined towards (Armitage and Conner 2001). Otherwise, for instance, individuals should have been ab le to instantly follow through on their intent to take a certain course of action. Someone who desired to quit smoking should definitely be able to do so immediately, but may be hampered by doubts on whether or not he will be able to quit – if this happens, he really will not be able to quit. Not only that, but one’s perceived and therefore actual behavioural control can also be swayed by the perceptions and opinions of those around him, which may sometimes manifest, among other things, as peer pressure (Ajzen 1985). As anyone in real life will admit, relatives, friends and coworkers inadvertently sway their decisions in voicing out their own viewpoints on the matter. That said, some of these individuals will have more influence on decisions concerning certain areas; for example, decisions regarding one’s family will of course be influenced most by relatives and family, as they are the ones directly concerned. And consequently, the biggest influence on oneâ€⠄¢s career moves will be his bosses and colleagues. Social norms, on the other hand, are much more varied, being described by Schulz et al (2007) as being either descriptive or injunctive in nature. Descriptive norms describe the behaviour of a particular group, and include stereotypical statements such as how x out of y people prefer a certain brand, or something similar. Meanwhile, injunctive norms are more subtle, and refer to certain cues or signals about how a