Economics for Business Essay Example | Topics and Well Written Essays - 1000 words

Economics for Business - Essay ExampleThis would entail more concern for the poor and redressing those imbalances adapt off by the market capitalism. The point in the article is about how the come up of the fond democrats would necessitate to a new order in the world.This article would be of interest to anyone concerned about the rise of the strain of market capitalism or the neo-liberal order that prevailed over the last thirty years or so. Given the way in which leading banks around the world collapsed or had to be bailed out for affright of imploding, the article certainly is timely and relevant to our times. Thus, the thesis of the article is about moving away from the antiquated order and building new regulatory mechanisms in place. As Mr. Rudd puts it, unfettered capitalism is not only dangerous but malignant as well. I have chosen this article to look into as it fits it with my thinking about the evolution of market economies and the way in which the future forms of ca pitalism would modernise from the debris of the current economic crisis. And given that Mr. Rudd was elected on a platform of social change, I am interested in pursuing this line of thinking.Many commentators have called the excesses of groyne Street as Casino Capitalism where the players tend to look at investments as a sort of game that yield higher and higher rate of returns without a thought for the risks involved in much(prenominal) an enterprise. The term has stuck as several of the Ponzi schemes have shown how unscrupulous brokers and bankers around the world resorted to an economy of debt and reckless impart practices combined with high risk taking behavior. Though classical economics places a reliance on debt and risk taking to get the profits coming, there are certain norms that are prescribed on with tenets of economic theory.What has happened over the last decade or so is that these tenets of economic theory have been ignored. integrity of this states that the valu e of an asset