How did events leading up to the Great Recession illustrate the significance of the Moral Hazard and/or the Principal-Agent problem? Give an example from a news article to illustrate. What could be done to minimize such problems? Answer. We referred to the article given at http://www.cato.org/policy-report/januaryfebruary-2010/perfect-storm-ignorance The root cause of everything that led to the great recession of 2008 can be traced to the Sub-prime Loan crisis. The riskier loans were exposed
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Confucian Virtues on Chinese Moral Standard In China‚ “Hyo” is a traditional moral behavior since ancient China. In Chinese‚ “Hyo” means filial piety‚ a virtue of respect to parents and ancestors. This kind of virtue is not only praised highly in ancient China‚ it is also one of the most important virtues affecting modern Chinese nowadays. “Hyo” is the first virtue of the eight main virtues in Confucianism. These eight virtues include: Hyo‚ Ti‚ Zhong‚ Xin‚ Li‚ Yi‚ Lian‚ Chi. These morals of Confucianism
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what to do. Every action‚ every single thing we say must first go through our head and we need to decide as a body if its applicable to our very situation and what causes and effects in will have on our lives and in our future. This idea of "the principle of utility" is a piece of our making that gives an outlook of what is meant by our actions. "I say of every action whatsoever; and therefore not only of every action of a private individual‚ but of every measure of government." He talks about happiness
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DIFFERENCES BETWEEN ETHICS AND MORALS Ethics and morals relate to “right” and “wrong” conduct. While they are sometimes used interchangeably‚ they are different: ethics refer to rules provided by an external source‚ e.g.‚ codes of conduct in workplaces or principles in religions. Morals refer to an individual’s own principles regarding right and wrong. Comparison chart ETHICS MORALS What
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What is moral virtue? Although‚ due to infinite opinions it may be difficult to answer‚ Aristotle offers us insight into the common thread of all morality. He says that every art‚ every science‚ every action has a goal‚ an end that is aspired to. This end is always good. “The end of medical science is health; the end of military science‚ victory; of economic science‚ wealth.”(Aristotle‚ 22) Everything that we‚ as humans‚ decide to do is for the good of something. Now when we ask the question‚ “What
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A moral value is a universally accepted ethical principle that governs the day to day living of life. These principles are important in maintaining unity‚ harmony and honour between people. Moral values are usually communal and shared by the public in general‚ thus if there is no agreement among community members no moral values will be established. Moral values define the principles and standards which determine the extent to which human action or conduct is right or wrong. They encompass a wide
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12/10/2009 The Inconsistency of the Mass Media with Moral Principles | | Mediated Communications | Final Paper | In today’s society there are many mass media practices that I feel are inconsistent with moral principles. Forms including internet pop-ups‚ junk emails‚ and television news are just three of the many ways that the mass media is inconsistent with moral principles. Even though we‚ as a society‚ face this issue every day‚ there is one way to bypass it. That method is to be
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David Ruano David Parker History 111 March 1‚ 2015 Franklin’s Virtues: Attaining Moral Perfection Besides Dr. Martin Luther King’s‚ “Letter from Birmingham Jail‚” Benjamin Franklin’s autobiography is one of the best pieces of literature I have ever read. I now understand why this book is viewed with great importance. I truly believe that if every American young or old would follow in the perspective of Dr. Franklin and his 13 virtues‚ that the United States of America will be the first nation to
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fabric of any society is held together by the standards of morality that we maintain and practice. Values are our personal set of beliefs about what is important‚ unimportant‚ right‚ wrong‚ good and bad. When we are confronted by choices‚ options‚ or moral dilemmas‚ the decisions we make will indicate what values we hold. Human values give worthiness and respect to life. The foundation of human values are based on · Dignity of human life · Respect and consideration for the "other" · The importance of
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In the article written by James Harold called“ A Moral Never- Never Land: Identifying with Tony Soprano” author questions to the moral effects of TV on human life. Harold’s main claim in this article is that TV shows like The Sopranos combines both sympathetic and repulsive elements of life and ultimately its good for to invite the viewers to think deeply about the nature of good and evil. Also the author questions that there is nothing wrong with loving characters such as Tony Soprano because this
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