PART II – Cryptocurrency
Based on the following article, write no more than a 300-word essay on the benefits and costs of cryptocurrencies.Note that the focus should not be on their profitability as an investment, but the overall utility or disutility to the economic-monetary system.You could find other articles as well by simply searching for “cryptocurrency pros and cons.”In this case Google searches will be more fruitful than library searches.
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PART III – Ethics and Mega-institutions
This pertains mostly to financial institutions.The TARP bailout (Troubled Asset Relief Program) is mostly what initiated this whole concept.Since the failure of large monetary institutions may potentially destabilize the entire economic system, it is felt they are sometimes implicitly given a license to act unethically, for example by making highly speculative investments, or even worse.The catch phrase that captures this was “too big to fail, too big to jail.”
(1) The following article was anin-depth expose in Rolling Stone that first made the public aware of what is going on.Look this over as an introduction to the gravity of the situation as it arose in 2008-2009.Write just a 5-10 sentence summary of the major points Mr. Taibbi was making, especially with a view to the ethical aspect.
(2)Do a simple Google search to find more recent articles and points of view on the issue.This can include case histories as well, especially in reference to the implications for the overall economic system.As in most economic issues you can usually reduce the problem to one of overall costs and benefits.(300 words)