Financial crises, perpetrators, and justice

Justice is an ancient concept. We often think of the term as synonymous with law or lawfulness. But a broader sense of the word is closer to fairness. Behavioral finance studies indicate Jailpeople have an inherent sense of justice or fairness. This view of human nature clashes with the classical economic view of “homo economicus”.

Aristotle’s definition of justice is still widely accepted today. He says justice consists in treating equals equally and unequals unequally but in proportion to their relevant differences. Justice, in other words, is giving each person her due.

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Elizabeth Warren Pushes for Lower Student Loan Rates (0.75%) for One Year

The Senator from Massachusetts is sponsoring her first bill, “The Bank on Students Loan Fairness Act”. The purpose of the bill is ostensibly, to give students the same preference to low Student Loansinterest rates as banks get from the Fed’s discount window – less than 1%. (The discount window is a facility offered by the central bank that allows eligible financial institutions to borrow money from the central bank, usually on a short-term basis, to meet temporary shortages of liquidity.) The bill lets students take advantage of

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