Wednesday, November 20, 2019

An ethical review of four articles Article Example | Topics and Well Written Essays - 2250 words

An ethical review of four articles - Article Example The ability of the Americans to repay loan has been decreasing especially after the 2008 economic crisis. Unemployment rate is ever rising and the income level is ever declining. As such, the default rates have gone up to the ceiling. The rising inflation, skyrocketing cost of education and living is expected to make things worse in the near future. As indicated in this article, this phenomenon has far-reaching negative effect on the entire economy of the country. It is ethical for people to honor their financial obligations hence students who take loans are not exceptional. In this article, the increasing rate of loan defaulters is the main ethical concern that is likely to pose a threat to the entire economy unless something is done immediately. Even though economic conditions are getting harsher, students are expected to be cautious when taking these loans and should plan on how to repay them, otherwise it will cause economic damage to the general populace. What I feel or think af ter reading the article The article reveals a phenomenon that ought to be taken seriously by the state. It is a crisis that is likely to cause serious economic problems in the near future. The revelations by the article provide useful insights about the precautions that ought to be taken by students before they borrow loan. ... In my view, I feel that most students do not take full responsibility for the loans. This is because of the fact that some students are repaying the loans despite earning very low income. For instance, Macaluso has been paying for the loans even though it has affected his savings. I also think that students should not be allowed to take these loans if they are financially stable as this would help reduce the number of the defaulters (Reynolds 1). My opinion In 2012, National Student Clearinghouse Research Center did a research which showed that more than 50% of college graduates are unemployed and are employed in unskilled jobs that are below their academic credentials. A report by the National Center for Education Statistics shows that more than 70% of American students fail to graduate within 3 years. Despite this trend, most of these students still carry student debt. This issue is also happening in other developed countries particularly Canada and Australia. In my opinion, there is immorality that has been spared in the student-loan world. In 2012, the student debt in the United States had surpassed the trillion-dollar level. It is now a major economic burden on graduates and the larger society. This burden cannot be easily offset by increased incomes among the graduates (Reynolds 1). Article Two Ethical Issue The whole world is facing the reality of depleting natural resources such as oil and gas. Middle East is considered to be the hub of energy resources and reserves hence the region has attracted the attention of powerful countries around the world. In this article, Dowd (1), suggests that the supply demand for energy has drastically increased while the supply is ever dropping. In this article, Arctic region is believed to hold approximately 30 per

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