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Financial crisis regulatory - Essay Example
Author : laynehowe
Finance & Accounting
Pages 8 (2008 words)
FINANCIAL CRISIS REGULATION Name: Instructor: Task: Financial crisis regulation Introduction The economic crisis that began in the year 2007 has attracted attentions of various economists. Policy makers and analysts are constantly searching for strategic procedures for managing economic crisis to develop strong economies…
Robert Shiller examined the controversy of the global economic crisis and its management and raised prudent arguments about the practice. The economist argues that democratization of finance provides an ideal strategy of managing the contemporary and future economic crisis. Some analysts support Shiller’s perspective while others have criticized his ideology. Interestingly, few economists argue that the financial regulations adopted by the OECD countries are sufficient in containing financial crisis (Gray & Akseli, 2011 p. 2). Considering the magnitude of the idea of global financial crisis management, there is a need of developing knowledge of ideal approaches of managing the problem. This article provides an analysis of the debate started by Shiller concerning democratizing finance while comparing the argument with the types of regulatory measures practiced by the OECD countries. The Shiller’s perspective on financial crisis Shiller explores the importance of moral reputation of finance institutions in management of economic crisis. After the 2008 global economic recession, anger expressed itself in objections around the world. People constantly criticized how powerful profit oriented social-economic procedures have influenced financial institutions. ...