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Critical Review: The Big Short By Michael Lewis

1078 Words5 Pages

ENRIQUEZ, Ada Claudette E.
2014-00295-MN-0
Bachelor in Political Science IV-1

CRITICAL REVIEW ESSAY:
The Big Short by Michael Lewis

As emphasized in class, Americans are said to be firm believers of democracy, a system of rule by the people rooted in three fundamental principles: popular sovereignty (the people ultimately rule), political equality (each person has an equal say in determining what the government does), and political liberty (the people are protected from government intervention.in relation to the practice or exercise of their rights). The aforementioned aspects of democracy are not only easily seen in their society today but it can also be grounded as a key player in their history. And since the Americans hold democracy near …show more content…

brokerages and investment banks, and it is also used as the collective name for the financial and investment community, which includes stock exchanges and large banks, brokerages, securities and underwriting firms, and big businesses. However, in Lewis’ book, he simplifies the idea of Wall Street as a unit that’s basic function is to allocate capital; he stated that the people who work here are the people in charge of deciding who should get it and who should not, and he also placed an importance with the concept that Wall Street is about the people who are making bigger money packaging and selling and shuffling around American’s growing debts. These types of descriptions from the author are not only a sign that supports the capitalistic ideals of Americans but it also shows the individualistic traits of their people that’s imbedded in their political …show more content…

Most often than not, this is seen when Republicans fight for the delay of welfare services that are being proposed for the people. The simplicity of it all rests on their mindset that the idea of enabling the government to provide social welfare services to the people will create a culture not only of dependence of the poor to the able but also a culture of laziness. They see that the situation becomes unfair for people who are diligently paying their taxes when they are coerced to pay their dues to the state so that the money collected will help the people who are not part of the labor force of their country or for people who are unwilling to even try and contribute to society. Though it may seem like this a distant argument for the book, when looked at through a deeper lens, it is very much appropriate. Through Lewis’ book he attributed that Wall Street investment banks were very much like Las Vegas casinos because they the one’s in-charge to set the odds where the customer are able to play zero-sum games against them and may acquire the possibility to win from time to time but never systematically, and never so spectacularly that he bankrupts the casino,

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