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Financial Crisis - Book Report/Review Example
Introduction: The paper aims at providing explanation on the current recession in the US and the reasons for the origination of the credit crunch using various newspaper sources and applying the Weber's explanation of value judgments and evidence on them to understand the different views expressed in them…
(Hoenisch 2006). It clearly states that facts and information are different from values that exist in a judgment. We understand that a fact or evidence leading to a judgment is different from a value judgment. However, the question here is do facts and evidences on a situation enable us to make value based judgments
While we explore factual and perceptual information of the US recession, let us go over each piece of news from the leading dailies, over the last one year and carefully analyze and arrive at a consensus through Weber's dichotomy understanding of facts and values. It is essential to arrive at a clear cut estimation of facts and the information stated in these dailies to understand their different views and the origination of the credit crunch.
Body: Let us start off with the latest on the US recession. The Guardian reports "The US unemployment rate has hit a 26-year high after employers shed 663,000 jobs in March to cope with plunging demand for goods and deteriorating economic conditions.
The March figures were in line with economists' forecasts and they had little immediate impact on the financial markets. The Dow Jones Industrial Average was likely to open marginally higher at the opening bell on Wall Street.There was a degree of relief that the numbers were not worse. ...