1.

the next genre discussed by Harvey was false theory. Harvey (2010) observes that people read too much and believe in the inadequate of markets leading to capital crisis. In particular, everybody was obsessed by the false theory and they all believed that the market was running efficiently. Competing scientific theories are loudly debated on the basis of constantly emerging new evidence. Excessive reading and study can diminish the brain productivity of investors and regulators, especially if no fresh interpretations are developed. They lead to a technical conclusion that causes more confusion than progress, precisely, a classic example would be belief in false gods such as Neo-Liberalism. It is highly essential to read about effective tactics adopted by other institutions, however that does not mean they are universally applicable and it would be of advantage to all institutions.

2.

Moreover, the fourth genre discussed was the cultural origin. This genre was described as an Anglo Saxon disease where no individual was interested in others business. Cultural related problems that causes financial crisis is prevalent in Germany and France where they believe the crisis is primarily Anglo-American (Harvey, 2010). Organizational management in France and Germany believe that capital difficulties should be accepted because they are common in other nations for example, the United States. As explained, organizations should learn from other organizations dealing with capital challenges, but not to the point of saying, "That has nothing to do with us, it affects them more than us, or it doesn't affect us[RLV1]."

3.

Lastly, it was the failure of policies. There has been to many regulators of the wrong sort with internal contradictions of capital accumulation. Financial crises can be caused by excessive regulation and government. Then there's the assumption that it's a policy failure, and that policy has actually intervened. For instance, The World Bank and Fox News' Glenn Beck wing have formed an odd partnership, both claiming that the problem is excessive regulation of the wrong kind. Another example is when central banks create a monetary bubble, which fuels an asset price boom while also distorting risk pricing. High-risk lending is encouraged by the Community Reinvestment Act and related regulations, as well as government support for Freddie Mac and Fannie Mae (which had particular government goals of giving over 50% of mortgage loans to disadvantaged individuals).

Required: discuss each genre in detail and with examples.

REFERENCES

1.Crisis Theory

https://en.wikipedia.org/wiki/Crisis_theory

(Accessed on 16^th May, 2021)

2.David, H (2010, April 26). The Crisis of Capitalism.

YouTube. Retrieved May 16, 2021, from https://www.youtube.com/watch?v=M8b_A2JMFrc