What caused the Financial Crisis: An in-depth study of Neoliberalism and the Lehman Brothers

This essay hasn't yet been marked by one of our teachers

You can view 9 essays on International Politics that have been Marked by Teachers

The first 200 words of this essay...

What caused the Financial Crisis: An in-depth study of Neoliberalism and the Lehman Brothers

This essay will undertake a critical study of the financial crisis debate of 2008, and will focus upon the theory of Neoliberalism, and will then use the Lehman Brothers as a case study in order to make its conclusions more credible. The essay will firstly examine in detail the theory of Neoliberalism, and will use a variety of academics, such as Butler, Duffie, and Cassidy, to examine the reasons as to why neoliberalists believe the financial crisis occurred. In order to generate an academic debate, the essay will then scrutinize the neoliberalist argument by using academics such as Williams, Pelaez and Pelaez, and Kotz, to form the argument which will allow the essay to inspect both sides and conclude accordingly. Finally, the evidence analysed throughout the essay will be applied to the case study of the bankruptcy of the Lehman Brothers, in order to evaluate the arguments correctly. This essay will argue that the government in the United Stated (US), set targets for the banks to fulfil by passing legislation, such as the Community Reinvestment Act 1977 (CRA) under Jimmy Carter (Butler 2009 p53).