Market Crash - Lester Thurow

Our Greed affects our economy. 5I beget to admit I had never hear of the name Lester Thurow until this course but as I began researching somewhat of his works, estimates, thoughts and management philosophies, I made the quick realization that some of his ideas and writing over the past 40 plus age atomic number 18 very relevant to toadys economic crisis. One particular article I read from The capital of Massachusetts Globe April 17, 2001 Market Crash Born of Greed could corroborate very well of been written today. We capitalistic as Thurow gravels it atomic number 18 nervous strain to be greedy. He says we only have what is known as the greed gene. Though capitalism has dominated the worlds economies for the past 200 years there are many flaws to these beliefs, the major flaw being greed. In socialist societies their are no ups and downs in sock markets because they dont exist. The government controls the economy but they also do non get to reap the benefits of dense working entrepreneurs who strive to concur vast sums of money and acquire power. If we could only strip the stinking genes from capitalism and leave the good ones the world may not be in the predicament that we face today. He discusses altruism, the idea where it is more important to help ones neighbor or society, so a better communal society needs put above ones own personal needs.

As I learned more about altruism it sounds similar to the policies that our current system is pushing. Though capitalism drives our economy there needs to be a balance Thurow says. If we could only extract the need to be greedy we might be better society. But we hard-working capitalist have been breed that we dont want to check out our hard earned money be given aside to people who have not earned it. Why should we have to pay benefits for someone who doesnt work as hard as we do? Hence the greed gene breed into us. Market crashes are nothing new to us, the world has been experiencing them for centuries. I had never heard of the tulip market crash in capital of The Netherlands in the 1800s before... If you want to get a wide-eyed essay, order it on our website: Ordercustompaper.com

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