Mitigating TBTF: The Australian Four Pillars Policy

July 26th, 2016 by Kara in Case Studies

By: Jeff Guadalquiver The so-called Four Pillars Policy is the mainstay of the Australian government’s intervention within the domestic Australian financial industry. The policy prevents mergers between the four largest Australian banks known collectively as the ‘Big Four’ banks. ‘Big Four’ banks and the rest of the Australian financial markets however, argue the policy is actually counterproductive and detrimental to the financial system as a whole. This research paper discusses the economic arguments by both the supporters and detractors of the Four Pillars Policy, summarises relevant empirical literature regarding Australian financial ...

Ethics of China’s Land Expropriation Rules and Reforms

July 9th, 2016 by Kara in News

By Nina Yi Zheng  Under China’s current rural land expropriation process, local governments make arbitrary decisions on expropriation, paying little compensation to peasant owners. The current process is a violation of procedural justice, corrective justice, and distributive justice according to the moral principles of John Rawls. Nor can the process be justified on utilitarian grounds. The marketization reform in Shenzhen, which allows rural land planned for certain purposes to enter the market without the expropriation process, has improved procedural justice and increased the good consequences. However, the implementation of the reform lacks ...