Compare and Contrast Posner's and Ferguson's Views on the Main Causes Essay

Compare and Contrast Posners and Fergusons Views on the Main Causes of the Financial Crisis - testify ExampleMany media outputs, including dissipates, articles, and books have outlined various determinants of this economic disorder. One of the most prominent is Charles Fergusons film Inside Job, which won an honorary society Award for Best Documentary for its power filmmaking and investigative practices. some other prominent text is Richard Posners Crisis of Capitalist Democracy. This essay compares and contrasts the views of these two individuals -- Posner and Ferguson in terms of their perspectives on the main causes of the financial crisis. Analysis From the opening credits of Inside Job its clear that Posner and Ferguson agree on a number of full-blooded key contributing factors to the 2008 economic crisis. In these regards, both individuals identify the original spark of the crisis the collapse of Lehman Brothers. Another prominent aspect that both thinkers consider is the reputation of financial deregulation as greatly contributing to the crisis. Both the film and the text provides historical accounts both Ferguson and Posners exploration of the Glass-Steagal Act and Fergusons exploration of early era Wall Street in demonstrating the tremendous shift that occurred in the 2008 economic climate as compared to a bygone conservative era. ... Another of the most notable links between the two texts is the very notion that the American governmental social organisation may not be able to resolve to the significant challenges of the crisis at hand. While Posner emphasizes that a new model of Keynesian economics is needed, he also notes, it is not that the economic challenges that we face are unsurmountable but that we may lack the governmental structures and political culture requisite for meeting them (Poster, pg. 7). One sees this echoed in Ferguson perhaps most prominently in the films analysis of the links between the financial sector and academia. Ferguson makes the profound and startling insight that the very people who provide the structural education of the providence are themselves on the payroll of these financial firms. In both instances then Posner and Fergusons there is a profound nihilistic cynicism at the very structure of the American system. Still, as the film and Posners book develop its clear there are a number of distinguishing factors. There are a number of overarching considerations. In terms of contrasting elements, one considers the nature of the contrasting mediums. While Fergusons film is highly successful in articulating much of the interlacing process of the crisis, it lacks the in-depth and extended analysis a book can offer. As such, one considers that while the two thinkers may not necessarily stand in theoretical conflict, Posner has the luxury of offering an extended analysis on many elements of the crisis. One trend in these regards is the increased emphasis that Posner places on the citizens that participated in the admit bubble. He writes, by pushing up the value of common stock, which made people feel wealthier because their savings were increasingly