A Theory of Looting: The Sub-Prime Crisis

15 Pages Posted: 14 Mar 2015

See all articles by Hak Choi

Hak Choi

Chienkuo Technology University - Department of International Business; Chung-Hua Institution for Economic Research

Date Written: March 12, 2015

Abstract

This paper describes a frictional story of how the sub-prime crisis has been caused. It then offers a theory of looting, to explain how people loot other’s money, and to show the kinds of people who supply the money. This paper then shows that public looting is more rampant than private looting, and explains why the looting people are fearless and shameless. Finally, it ferrets out the culprits and offers some advice of protection against looting.

Keywords: Looting, Financial Crisis

JEL Classification: G01

Suggested Citation

Choi, Hak, A Theory of Looting: The Sub-Prime Crisis (March 12, 2015). Available at SSRN: https://ssrn.com/abstract=2577630 or http://dx.doi.org/10.2139/ssrn.2577630

Hak Choi (Contact Author)

Chienkuo Technology University - Department of International Business ( email )

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Changhua City, 500
Taiwan
+886 91 901-4618 (Phone)

HOME PAGE: http://euntold.wordpress.com

Chung-Hua Institution for Economic Research ( email )

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Taipei
Taiwan

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