One of the reasons conflicts have not ended is culture. More interactions between different civilizations are intensifying the awareness of differences between cultures. Because civilizations do not understand differences between theirs and others, conflict arises. In some conflicted areas of the world, liberalism has failed and new authoritarian powers have appeared. The cause of the 2008 economic crisis was borrowers not being able to keep up with their ballooning mortgage payment. As a result, borrowers started defaulting, which put more houses on the market for sale. With supply way up and demand extremely low, home prices collapsed. Because liberalism involves an open, global trading system dependent between nations, the housing market
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The excerpt from “The Clash of Civilizations” says the first reason for that is that there are differences between civilizations. People of different civilizations have different histories, languages, cultures, traditions, and religious beliefs. These differences are far more rudimentary than differences among political ideologies and regimes and as a result they generate the most conflict and, historically, the most violence. On top of differences between civilizations being present in the first place, there is a force that is driving those differences to be more intense. Increasing interactions between peoples of different civilizations enhance the consciousness people have to the differences there are, which in turn gives strength to hostility toward other civilizations. Another reason conflict between civilizations occurs and will continue is religion is making a comeback in the world. Religion provides a basis for identity and unites people in a way national boundaries cannot. Non-Western people de-westernization themselves and their civilizations, therefor returning to the past is another reason civilizations will clash. As demonstrated in the “return to the roots” phenomenon that is occurring throughout the non-Western world, non-Western civilizations have the desire and resources to do it. The last reason civilizations will clash is because cultural characteristics and differences are less …show more content…
Prior to getting a mortgage, one would have to show good credit and have a steady job to prove to the bank they could pay back the loan. The banks did not want to take the risk on the borrower defaulting. This was the case until investors realized more money could be made on interest rates homeowners paid on their mortgages than investments that were paying very little like U.S. treasury bonds. Investors wanted mortgages to collect interest off of so mortgages were bundled by the banks and sold. These investments were paying back great so investors wanted more mortgages. In order to generate more mortgages, banks lowered their standards and started making subprime mortgages. Some banks even made loans without verifying the borrower’s ability to pay it back. Also called predatory lending practices, these loans made to unverified people offered adjustable rate mortgages that people could afford at first, but quickly ballooned beyond their means. This caused barrowers to stop paying their mortgages. Now, lenders were stuck with subprime mortgages and were declaring bankruptcy. Now that supply was up and demand was down, housing prices collapsed. The 2008 Financial Crises proves liberalism is not the best ideology for the world. In the 2008 Financial Crises, in effect of one aspect of the huge web failing, the entire financial system fell apart. Liberalism promotes the same kind of web between
The excerpt from “The Clash of Civilizations” says the first reason for that is that there are differences between civilizations. People of different civilizations have different histories, languages, cultures, traditions, and religious beliefs. These differences are far more rudimentary than differences among political ideologies and regimes and as a result they generate the most conflict and, historically, the most violence. On top of differences between civilizations being present in the first place, there is a force that is driving those differences to be more intense. Increasing interactions between peoples of different civilizations enhance the consciousness people have to the differences there are, which in turn gives strength to hostility toward other civilizations. Another reason conflict between civilizations occurs and will continue is religion is making a comeback in the world. Religion provides a basis for identity and unites people in a way national boundaries cannot. Non-Western people de-westernization themselves and their civilizations, therefor returning to the past is another reason civilizations will clash. As demonstrated in the “return to the roots” phenomenon that is occurring throughout the non-Western world, non-Western civilizations have the desire and resources to do it. The last reason civilizations will clash is because cultural characteristics and differences are less …show more content…
Prior to getting a mortgage, one would have to show good credit and have a steady job to prove to the bank they could pay back the loan. The banks did not want to take the risk on the borrower defaulting. This was the case until investors realized more money could be made on interest rates homeowners paid on their mortgages than investments that were paying very little like U.S. treasury bonds. Investors wanted mortgages to collect interest off of so mortgages were bundled by the banks and sold. These investments were paying back great so investors wanted more mortgages. In order to generate more mortgages, banks lowered their standards and started making subprime mortgages. Some banks even made loans without verifying the borrower’s ability to pay it back. Also called predatory lending practices, these loans made to unverified people offered adjustable rate mortgages that people could afford at first, but quickly ballooned beyond their means. This caused barrowers to stop paying their mortgages. Now, lenders were stuck with subprime mortgages and were declaring bankruptcy. Now that supply was up and demand was down, housing prices collapsed. The 2008 Financial Crises proves liberalism is not the best ideology for the world. In the 2008 Financial Crises, in effect of one aspect of the huge web failing, the entire financial system fell apart. Liberalism promotes the same kind of web between