Papers must be typed, and must be 3000 to 4000 words long.
You must cite at least five sources. I do not care how you cite them; just cite them in a way
that I can find your sources if I have to.
Write an essay explaining and defending your answer to the following question:
What, if anything, does the 2008 financial crisis show about the ethics of the capitalism? First, briefly explain your understanding of what happened that led to the subprime
mortgage collapse and ensuing financial crisis of 2008. In your opinion, what caused
all this? Consider multiple possible hypotheses, and explain and defend why your
explanation is a better hypothesis than the other ones.
Next, explain what you think this explanation of the crisis tells us about the ethics of
the economic system of capitalism. Should we blame the free market for the collapse?
Or should we blame too much government regulation? Or is something else to blame?
Be sure to fully defend your opinions.
This paper requires some research. That is, in answering your question, you should try your best to
figure out what actually happened to cause the 2008 financial crisis. This will be difficult, since there
are several competing hypotheses that various experts and non-experts endorse. You should do your best
to become familiar with these various proposed explanations. (As stated above, for this paper you
must provide citations of at least five sources... and I recommend researching and using a lot
more than that!) To get you started, I have provided several links to articles on the course blog:
In addition to your research, though, I want you to demonstrate your critical thinking abilities.
Don't simply accept someone's theory because it's published in a fancy newspaper or magazine.
Evaluate the reasons they offer in support of their proposed explanation. Choose the explanation
that you think is most likely to be true given the evidence at your disposal, and defend your choice.
Here are some links to get you started.
What happened? Explainers:
What caused the crisis? Hypotheses and rebuttals: