Inside Job (Film): Corruption

Introduction

Inside Job is a documentary by Charles H. Ferguson of the global financial crisis starting in 2007. The film was produced by Sony and in May 2010 at the Cannes Film Festival shows. He won the 2011 Oscar. The development of the subprime market and the background to the crisis, its history, its international impact on the example of China, the responses to them, and the aftermath of the interested parties are described in the interviews and comments (Minow pp. 205). One focus is on the depiction of corruption in the American judiciary and in academia. The reason for this lies in the personal ties of banks, investment banks, rating agencies , insurers, industry, politics and economics at the major universities in the United States. Some key players in the crisis that had once used in reports for the deregulation of financial markets, itself benefits as employees in companies of developing significant and have it in American politics, especially in the government of George W. Bush, supported.

Discussion

Corruption has been defined as the use of state power (including economic power) by individuals or private companies for profit. This definition includes many of the most common forms of corruption, including, for example, the official who negotiated procurement, the bureaucrat charged for issuing a permit, the regulator is captured by the regulated companies, the judge who sells failures to the highest bidder, police covertly working for the mob, and so on. In all examples, the state power has been sold, leased or auctioned by any of its agents.

But corruption goes beyond the definition and the examples above (Grossman pp. 53). The most visible of corruption have to do with the state, with the theft of public resources or systematic abuses of power. But there are forms of corruption that do not directly involve the state. There is also corruption, I believe, when an individual or a group of people betray the public trust pecuniary purposes. In this case, as in the examples above, corruption enriches a few at the expense of essential public good at the expense of confidence in the institutions.

There is corruption, for example, when economists are presented to the public as impartial analysts of public policy or economic reality, but are actually paid agents of powerful financial, commercial and industrial (the documentary Confidential Job denounces this type of corruption effectively and somewhat ill). There is corruption when scientists, who usually enjoy a reputation for objectivity and independence, acting covertly on behalf of private interests. The examples abound.

Ronald A. Fisher , the most important statistic of the twentieth century, so stubbornly denied the existence of a connection between the consumption of snuff and lung cancer. Fisher remained a controversial (and not always clear) professional relationship with the tobacco industry (Bowman pp. 10).

There is corruption (or you may have at least) in the complicated relationships of physicians with pharmaceutical companies, relationships involving hospitality, travel and unreported gifts. Today there are public officials imprisoned for comparatively minor offenses. Privately, many doctors ...