During this week's class we began to explore financial institutions and markets. We learned about the US monetary system, the role of the Federal Reserve, and the dangers of inflation.
We began a healthy debate about the structure of the US currency and left room for debate about the notion of re-adopting the gold standard. I believe that we still have much to say on this topic. Feel free to explore it here.
On one thing we will agree, however. Our firms, households and governments are very leveraged. We see in the national debate that our country is at last owning up to the notion that spending, debt, and deficits have gotten out of control. But what is the answer? Some say we start with the idea of "austerity."
What do you think?
MSBA511 - Applied Financial Management, exploring our vocations in business with a vision of service to God and community.
Tuesday, January 25, 2011
Sunday, January 16, 2011
Should corporations be criminally liable for criminal behavior?
In last week's class, we discussed how firms are structured and organized, and we discussed the notion of "person" as it relates to the corporation.
In 1909, the Supreme Court decided New York Central & Hudson River R.R. Co. v. United States, which held that corporations are subject to criminal punishment for offenses committed by their employees.
A century later, the application of the criminal sanction to business organizations is taken for granted.
Professor Hasnas argues that New York Central decision was a mistake. What do you think-- explain your argument.
In 1909, the Supreme Court decided New York Central & Hudson River R.R. Co. v. United States, which held that corporations are subject to criminal punishment for offenses committed by their employees.
A century later, the application of the criminal sanction to business organizations is taken for granted.
Professor Hasnas argues that New York Central decision was a mistake. What do you think-- explain your argument.
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