市场经济案例分析 Introduction 经济代写

Introduction

介绍

市场经济案例分析 The reason why I selected this case is because it created a multiplier effect, a domino effect which in turn affected many other

 In the previous assignment, we discussed the case of Lehman Brothers.

The reason why I selected this case is because it created a multiplier effect, a domino effect which in turn affected many other institutions. The bankruptcy of Lehman Brothers was a shock to many, including the people from other countries. Looking back, it can be deduced that many mistakes were made by different parties who were involved in the case. It could have easily been avoided, and the economic downturn could have been prevented, had right actions been taken at the right time.

Lehman Brothers followed a high risk, high growth business model, which allowed it to grow tremendously. However, the cause of the fall of the biggest investment bank of the United States of America, can be traced back to 2006 when the company started to offer loans to people without proper documentation and credit ratings. Credit ratings determine how well a person will be able to pay back on his or her mortgage, thereby, securing the bank’s position and ensuring that it is able to make profits, and get back the money that has been loaned.

市场经济案例分析



 在上一个作业中,我们讨论了雷曼兄弟的案例。 我之所以选择这个案例,是因为它产生了乘数效应,一种多米诺骨牌效应,进而影响了许多其他机构。雷曼兄弟的破产震惊了许多人,包括其他国家的人。回过头来看,可以推断出很多错误是由涉案各方造成的。如果在正确的时间采取正确的行动,这种情况本可以轻松避免,也可以避免经济衰退。 雷曼兄弟遵循高风险、高增长的商业模式,这使得它获得了巨大的增长。然而,美国最大的投资银行倒闭的原因可以追溯到 2006 年,当时该公司开始向没有适当文件和信用评级的人提供贷款。信用评级决定了一个人偿还抵押贷款的能力,从而确保银行的地位并确保它能够盈利,并收回已借出的钱。市场经济案例分析



This is the primary reason why the sub mortgage crisis occurred in the first place.

In order to increase the returns loans were given to people even without proper documentation.  Which resulted in increased defaults, and many people failed to return the money they borrowed. The liabilities of the company increased, until finally.  Even its assets were not able to sustain the company. Lehman Brothers finally had to file for bankruptcy on September 15, 2008.

Lehman’s operations were being supervised by a number of governmental and industry organizations.  After Bear Sterns filed for Bankruptcy, including its primary regulator.  The Securities and Exchange Commission (SEC), the Chicago Mercantile Exchange (CME), which regulated certain derivatives, the Office of Thrift Supervision. Which supervised Lehman’s thrift subsidiary, and the New York Federal Reserve Bank (NYFED) (Wiggins, Pointec, Metrick, 2014).

This event resulted in an economic crisis all over the world.  Especially in countries whose currency was directly pegged with dollars. As the value of dollar depreciated, the exchange rate fluctuated as well, leading to economic crisis in other countries as well. This was an event that could have been avoided.  However, the authorities and agencies evaluating the performance of Lehman Brother’s failed to raise the alarm on time.

这是次贷危机最先发生的首要原因。

为了增加回报,即使没有适当的文件,也向人们提供贷款。这导致违约增加,许多人未能归还借来的钱。公司的负债不断增加,直到最后。甚至其资产也无法维持公司的发展。雷曼兄弟最终不得不在 2008 年 9 月 15 日申请破产。市场经济案例分析

雷曼兄弟的运营受到一些政府和行业组织的监督。在贝尔斯登申请破产后,包括其主要监管机构。证券交易委员会 (SEC)、芝加哥商品交易所 (CME)、监管某些衍生品的储蓄监管办公室。其中监管雷曼兄弟的储蓄子公司和纽约联邦储备银行 (NYFED)(Wiggins、Pointec、Metrick,2014 年)。

这一事件导致了全世界的经济危机。特别是在货币直接与美元挂钩的国家。随着美元贬值,汇率也随之波动,导致其他国家也出现经济危机。这是本来可以避免的事件。然而,评估雷曼兄弟业绩的当局和机构未能及时发出警报。


Thesis

The bankruptcy of Lehman Brothers could have been avoided had the authorities involved taken the right course of action.  It was their moral obligation to do so, but they failed.

Ethical Theory

The ethical theory which I have selected in order to analyze the case at hand is that of Virtue Ethics. It states that an action is right, if and only if.  It is similar to how a virtuous agent, purely out of habit and character, decides to do (Rosalind Hursthouse, 1999). I stand by the moral opinion that when the companies and agencies who conducted the audit and analysis of Lehman Brothers accounts. And books, did not highlight the issues that the company was facing.

Morally, these should have been highlighted and authorities should have been informed much in advance. Then this entire fiasco could have been avoided and the company would not have had to file for bankruptcy. Therefore, I am of the opinion, that the actions of all agencies were incorrect, and it is not something that a virtuous person would have done. These actions were incorrect and ethically wrong.

Another reason why I feel that this theory strongly supports my reason is because there were multiple courses of action which could have prevented the downfall of Lehman Brothers, and thus the economy. The government could have bailed the bank out or even more money could have been injected into the economy to control the trickledown effect. However, no such preventive measure was taken by the parties involved. This resulted in the worst case scenario that could have been prevented.  And eventually led to an economic relapse, that affected the entire world.

论文

如果有关当局采取正确的行动,雷曼兄弟的破产是可以避免的。这样做是他们的道德义务,但他们失败了。

伦理理论

我为了分析手头的案例而选择的伦理理论是美德伦理学。它表明一个行为是正确的,当且仅当。这类似于一个纯粹出于习惯和性格的有德行的人决定如何做(Rosalind Hursthouse,1999)。我支持对雷曼兄弟账户进行审计和分析的公司和机构的道德观点。和书籍一样,没有突出公司面临的问题。市场经济案例分析

从道德上讲,这些应该被强调,并且应该提前通知当局。那么这整个惨败就可以避免,公司就不必申请破产。因此,我认为,所有机构的行为都是错误的,这不是一个有德的人会做的。这些行为是不正确的,而且在道德上是错误的。

我觉得这个理论强烈支持我的理由的另一个原因是,有多种行动方案可以阻止雷曼兄弟的垮台,从而阻止经济的垮台。政府本可以救助银行,或者甚至可以向经济注入更多资金以控制涓滴效应。然而,有关各方并未采取此类预防措施。这导致了本可以避免的最坏情况。并最终导致经济衰退,影响整个世界。


Comparative Analysis

In comparison of virtue ethics, I will be discussing deontology theory. It states that the nature of the act itself, regardless of the consequences, is of relevance (Onora,O’Neill). From this premise, it can be presumed that Kant never believed in how the consequences would affect the majority.  Rather he focused on the nature of the act. If the nature of the act was deemed good by the majority, then the act was considered to be good. However, one argument against this theory is that the nature of the act can be different according to the person who is acting on it. This is governed by a person’s beliefs, and thus, it can differ from person to person.

In the case of Lehman Brothers, this theory would state that the nature of the act, i.e. the actions of the parties, agencies.  And government organizations involved. Therefore, their actions count regardless of the consequences, which should not be the case, as their lack of due diligence resulted in an economic pandemonium, which affected not just the United States of America, but also the entire world. In my opinion, deontology not only supports the actions taken by the parties involved, but also does not take into account the resulting outcomes. Therefore, this theory is flawed in nature, and virtue ethics, offers a better understanding of how the companies went wrong.

对比分析

在美德伦理的比较中,我将讨论道义论。它指出,无论后果如何,行为本身的性质都是相关的(Onora,O'Neill)。从这个前提可以推定,康德从不相信后果会如何影响大多数人。相反,他专注于行为的性质。如果大多数人认为该行为的性质是好的,则该行为被认为是好的。然而,反对这一理论的一个论点是,该行为的性质可能因执行该行为的人而异。这是由一个人的信仰决定的,因此,它可能因人而异。

在雷曼兄弟的案例中,该理论将说明行为的性质,即当事人、机构的行为。和政府组织参与。因此,无论后果如何,他们的行为都算数,事实并非如此,因为他们缺乏尽职调查导致了经济混乱,不仅影响了美利坚合众国,而且影响了整个世界。在我看来,义务论不仅支持有关各方采取的行动,而且没有考虑由此产生的结果。因此,这种理论在本质上是有缺陷的,而美德伦理可以更好地了解公司是如何出错的。市场经济案例分析


市场经济案例分析

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