Money and Banking Essay Example | Topics and Well Written Essays - 750 words

Money and Banking - Essay Example This is because the financial crisis has deeper roots. The global credit crunch has been traced by economists and media pundits to be caused by the sub prime mortgage crisis which has disrupted the US financial system, which effect has impacted many of the advanced economies of the world. According to the article, the ‘financialization’ of the US economy by speculative activities in order to hoard capital is the major reason for the global crisis—where the economy has overcapacity of capital but no increase in production in order to back it up. In order to understand it better, the authors have linked first the global financial crisis to the subsequent events that has appeared which may have been the trigger, but not the sole cause of it. While according to the article, this financialization process which is caused by speculation of capital increased the supply of capital in the economy, and not because of faster growth of production may have taken place a couple of decades ago, the trigger has occurred when asset bubbles appeared and the Fed has started ‘to make preemptive attacks.’ The trigger starts back after the 2000 stock market crash. According to the article, there are several policies which aimed to prevent â€Å"economic catastrophes† from happening. When the housing bubble occurred in 2006 at the same time interest rates are increased by Fed in order to regulate inflation, the housing sector as well as mortgage-backed securities faced a meltdown. This has been the start of the chain of events that lead to the global financial crisis. However, according to the authors, Fed’s efforts in order to address the crisis by bailing out several financial institutions will result in the effect that it aims to promote because the problem lies in a much deeper issue. While many economists and media pundits trace back the

THE (ME )IN LEADERSHIP Essay Example | Topics and Well Written Essays - 2000 words

THE (ME )IN LEADERSHIP - Essay Example But the definition was too generalized to understand what leadership is really all about; what makes a leader, and what character trait must be learned to become an effective leader. But recent scholars however has synthesized of what really makes a good leader. The idea of being a good leader is no longer as elusive as before. While for others leadership is inherent, it can now be learned integrating the inherent intrinsic quality of an individual and developing it to be become an effective leader. II. The Poster Explained Learning leadership begins with learning the â€Å"self†; to have certainty about himself/herself to as a foundation of confidence to lead and get things done. â€Å"It is necessary for a â€Å"leader, who possesses a clear self-concept through private self-consciousness, to be more likely to possess a strong purpose-in-life. Having a strong purpose involves consistency in self-identity (i.e., self-concept clarity) (Campbell, 1990; Frankl, 1992). The â₠¬Å"possession of a clear self-concept through private self-consciousness enables an individual to recognize the gap between what he or she is (i.e., real self) and what he or she should become (i.e., ideal self). This recognition may enable a leader to develop a strong purpose-in-life by setting goals in order to narrow the gap between the real and ideal self (Frankl, 1992; Marcus & Wurf, 1987). This clarity and lucidness of self-concept is necessary not only to get things done but also to harmonize my inner sense of self to what my peers sees in me. This â€Å"self-concept of reality is again distinct from the contents of the self-structure and is instead the level of lucidity and certitude of one's own understanding of that content- how well the leader thinks they know themselves. Campbell et al. (1996). This clear awareness of myself translates to a clearer sense of goal and purpose which will evolve to Self-Belief. Self-belief, which is the inner confidence that I will succeed and overcome any obstacle to achieve the best outcomes for service improvement. This Self-Belief attribute also will enable me to transcend myself. To be conscious how I see myself and how others sees me as well. As Abraham Maslow (1968) elaborates â€Å"He thinks that there is much more to us than what we mirror about the world around us, writing, "there is not only an orientation to the outer but also to the inner". This â€Å"mirroring as the reflections of self that a group member encounters in other group members, in the group leader, or in the group as a whole (Bion, 1961) harmonizes us within and eliminates discord beginning from perception of how I look myself through my peers. This type of mirroring can include the psychological mechanisms of denial, splitting, projection, introjection, indentification and projective and introjective indentification (Pisani, Colangeli, Giordani, & Popolla, 2006). On the other side of the mirror(s) lies the possibility of self-knowledge an d true relationship. When group members can recognize and own their projections, when they can work with them carefully and honestly in group, when they can bear the reflection(s) of their full identities, they can know more about themselves. Such, this sensitivity towards myself and others comes to mind the idea of myself likening to a dynamo whom the