Post by account_disabled on May 2, 2024 4:15:20 GMT
Bogle Enough True Measures of Money Business and Life New York John Wiley Sons Inc. Richard H. Thaler and Cass R. Sunstein Nudge Improving Decisions About Health Wealth and Happiness New Haven Yale University Press Richard Thaler and Cass Sunstein Human frailty caused this crisis Financial Times November.
COMMENTS ADNAN YOUNIS LODHI SECTION OFFICER MINISTRY OF COMMERCE PAKISTAN No one can disagree that greed and corruption are responsible for housing and credit crisis but we must also acknowledge that it is human greed that is the driving force behind innovation and economic growth. The fundamental assumption of social economic engineering is flawed it rest its entire argument on the presence of a benevolent super intelligent all knowing force Government or Business Organization . The history of our societies has repeatedly showed of the absence of any such force. The suggestion to provide incentives to make financial products easier is worth following.
It represents a case of hidden or withheld information that could lead to bad decision making on part of investors. Regulations in the direction of making financial transactions crystal clear is the job of the government agencies where everyone clearly understand the risk involved in it. But the suggestion to limit temptation is an insult to individuals intellect and tempering with human nature. Let us understand and accept that individuals are going to make economic mistakes that will harm their fortune. The response to this should not be to manage individuals or their actions. They will learn from the mistakes after pain and society will be better off in the long run. The moral hazard applies to individuals and corporations alike. In my opinion let housing and credit crisis takes its natural time.
COMMENTS ADNAN YOUNIS LODHI SECTION OFFICER MINISTRY OF COMMERCE PAKISTAN No one can disagree that greed and corruption are responsible for housing and credit crisis but we must also acknowledge that it is human greed that is the driving force behind innovation and economic growth. The fundamental assumption of social economic engineering is flawed it rest its entire argument on the presence of a benevolent super intelligent all knowing force Government or Business Organization . The history of our societies has repeatedly showed of the absence of any such force. The suggestion to provide incentives to make financial products easier is worth following.
It represents a case of hidden or withheld information that could lead to bad decision making on part of investors. Regulations in the direction of making financial transactions crystal clear is the job of the government agencies where everyone clearly understand the risk involved in it. But the suggestion to limit temptation is an insult to individuals intellect and tempering with human nature. Let us understand and accept that individuals are going to make economic mistakes that will harm their fortune. The response to this should not be to manage individuals or their actions. They will learn from the mistakes after pain and society will be better off in the long run. The moral hazard applies to individuals and corporations alike. In my opinion let housing and credit crisis takes its natural time.