DSOC 1101 Lecture Notes - Lecture 7: Henry Paulson, Economic Inequality, Rent-Seeking
29 Jan 2016
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Document Summary
The state arises to protect the economy. The state attempts to create the ways and means for economic development two examples of state/economy relations : 1815 to 1860: andrew jackson and nicholas biddle, 1980 to 2015: barack obama and hank paulson. Rush to create mortgage backed securities (mbs) led to high volume of risky mortgages, unfavorable terms for borrowers. Banks adopted a policy of lying to the court (p. 248) State of georgia attempted to regulate mortgage market, successfully blocked by rating agency, co- conspiring with banks. Economic inequality in particular when it is high and/or growing undermines cooperation. Attention to mitigation environmental damage undermined by the extent inequality, because people will tend to fight each over wealth distribution. : yes, he reflects democratic party program (cf. : intensification of inequality and intensification of human induced climate change, a double dilemma.
