An Analysis of the Financial Crisis of 2008: Causes and Solutions By Austin Murphy* ________________________________________________________________________ *by Austin Murphy‚ Professor of Finance‚ Oakland University‚ SBA‚ Rochester‚ MI 48309-4493 (248-370-2125; jamurphy@oakland.edu). Electronic copy available at: http://ssrn.com/abstract=1295344 Abstract This research evaluates the fundamental causes of the current financial crisis. Close financial analysis indicates that theoretical
Premium Debt Subprime mortgage crisis Credit rating
being unable to read or write’ and it is one of the main causes of poverty in any society‚ and Pakistan unfortunately. According to the 1998 census the definition of literacy is ‘one who can read a newspaper and write a simple letter‚ in any language’. Based on this definition Pakistan has a literacy rate of 55% *. Illiteracy contributes to poverty in numerous ways‚ both indirect and direct. The first link between illiteracy and poverty tends to be when the poor man is unable to afford a high
Premium Literacy Functional illiteracy Poverty
Terrorism in Pakistan Terrorism in Pakistan has become a major and highly destructive phenomenon in recent years. The annual death toll from terrorist attacks has risen from 164 in 2003 to 3318 in 2009‚ with a total of 35‚000 Pakistanis killed as of 2010. According to the government of Pakistan‚ the direct and indirect economic costs of terrorism from 2000-2010 total $68 billion. President Asif Ali Zardari‚ along with former President ex-Pakistan Army head Pervez Musharraf‚ have admitted that terrorist
Premium Pakistan
Poverty is described as a state of being extremely poor‚ and lacking the ability to provide for oneself. This state of destitution has impacted America’s bourgeoisie class as it makes for an inadequate economy as a whole‚ affecting all of America’s social classes. Our social class has traditionally governed our occupational options‚ making the opportunities for people living in poverty limited with the odds against them. As most people born into poverty do not achieve a greater social status of
Premium Social class Bourgeoisie Poverty
COUNTRY WHY I LOVE MY COUNTRY Pakistan our sweet homeland. Pakistan had appeared on the world map in 1947 but after the Muslims had made enormous scarifies. No other nation‚ it may be pointed out‚ has achieved such a major political objective in such a short period. But the Muslims of sub-continent had to strive with great perseverance of life and property of achieve this goal. Why I love Pakistan? It is not that Pakistan is a Muslim country. I love Pakistan because it is a hard-earned country
Premium Islam Qur'an
Pakistan in 2013 RESEARCH PAPER 12/76 6 December 2012 2013 will be another important year for Pakistan. Federal and provincial elections will be held during the first half of the year. If‚ as seems increasingly likely‚ the Pakistan People’s Party-led Government sees out its full term in office and hands over to a civilian successor‚ it will be the first time in Pakistan’s history that this has happened. But the political and economic situation remains highly volatile and unpredictable. In addition
Premium Pakistan Nawaz Sharif Benazir Bhutto
13.CENTRAL ISSUES AND PROBLEMS IN PAKISTAN EDUCATION SYSTEM AND THEIR NEEDED REFORMS: The existing education delivery system is not meeting the needs and aspirations of the society as such particularly‚ it is a challenge to the provinces and districts for the 21st century. Moreover‚ prior to devolution‚ the policy and planning have been undertaken by the central and provincial governments without taking into account the ground realities and without the participation of community. The main objectives
Premium Secondary education High school Higher education
which is the capital city of Pakistan is known to be covered with thick layer smog that actually keeps hidden the view of Margalla hills. So pollution is very prominent and exists to a threatening level in Pakistan. It comes from cars‚ factories and other such sources and Pakistanis are daily breathing polluted air. It is unfortunate that only a couple of people actually are aware of the depth of its effects on their and their children’s health. Pollution is known to cause coughing‚ sore throats and
Premium Islamabad Air pollution Pollution
URBANIZATION IN PAKISTAN1 Ishrat Husain Economic theory suggests that Structural transformation usually takes place when resources are reallocated from low productivity agriculture to high productivity industry and services sectors. Cities and urban areas are the magnets for location of these sectors which benefit from migration of the surplus and underemployed labour. Rapid economic growth is therefore associated with urbanization. The pace of urbanization is‚ in turn‚ accelerated with a larger
Free City Population Urban area
Causes and Effects of Poverty in Fika‚ Nigeria. Poverty is defined as the lack of minimum food and shelter necessary for maintaining life. In order to survive‚ human beings need basic resources such as clean water‚ sound education‚ good health‚ clothing and shelter. Within the society there is a wide range of poor people having less income than the rich which make the poor inferior to the rich. Poverty in Fika is caused by scarcity of human resources‚ opportunity barriers and unemployment; which
Premium