Origins of Financial Crisis and Moral Risk
DOI:
https://doi.org/10.37467/gka-revsocial.v3.806Keywords:
Twin Crisis, Economic Cycle, Moral Risk, Complexity, Systems ApproachAbstract
This article sets out to explore the psychological, moral and philosophical dimensions as well as economic, administrative, financial and institutional aspects of financial crises, to understand this phenomenon from the paradigm of complexity and low systems approach. Our argument establishes that the finances have been enthroned in the entire social organization, becoming a true systemic transformation, called "financiarización", which requires seek their relations with the depths of human being (ethical behavior) and derive her major consequences (moral risk) that allow us to study in a comparative way, the latest financial crises and their impact in an emerging economy in Latin America, specifically Colombia.
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