Niccolo Machiavelli was a realist, materialist philosopher who was born in Italy. He wrote the book 'Prince' which is considered as the best book in the field of statecraft.
Machiavelli is known as Child of Renaissance as it was him who separate church from state and thus became the originator of concept of European model of secularism. He is also referred as Father of Political Realism. His main belief system focuses prominently on following:
About nature of field of politics - According to him, how we live is far removed from how we ought to live.
On human nature - According to him, human nature is selfish, ungrateful, coward and fearful.
On the qualities prince should own - Clever like fox and brave like lion
On role of ethics in politics - In politics, ends justify means.
The financial crisis that began in the 1980s was the result of lax government regulations and management fraud that led to the closure of more than 1,000 savings and loans. The 2007 crisis was the result of risky mortgage loans and investments connected with those loans. In each case the situation resulted in borrowers’ inability to pay back loans and caused many to lose their homes due to foreclosure.
