MODR 1730 Lecture Notes - Lecture 9: Luddite
Document Summary
Ethical problems from the system (societal institutions) that we employ. Consequences felt by me during my life. Tries to march $ with people who need it. Do this for expanding business, public institutions, governments. It is not a charity, it is a business (a competitive one) Each crisis causes more damage, where as the industry makes more money. After economic depression, america had 40 years of financial growth. Derivatives : something that is based on another source. Go to bank, bank lends money, sells it to investors, then insures it. Leverage : is boring money to invest it. Luddite: someone who doesn"t want any new innovation against machinery. If system freezes, cash is the only thing you have left. Lobbying: you can appoint some for full time (ex. full time lobbiest) Lobbyist: is a private person paid to forward a certain agenda to the government.