Analyzing arguments

Krugman P. (2009, April 9). Making banking boring. The New York Times. Retrieved April 10, 2009 from http://www.nytimes.com/2009/04/10/opinion/10krugman.html?_r=1&ref=opinion


The thesis of this passage is mainly about the movement of banking industry in the U.S. and the ideas of solving the U.S. banking difficulties. Paul Krugman argues that the only way to solve the financial problems in the U.S. is to add regulations on the U.S. banking industry (par. 15). The methods that he makes his argument strong are logos and ethos. In terms of logos, he mentions the movements of banking history, which are three main eras. Moreover, he points out that the U.S. economy was thriving because of more lending regulations (par. 8). At that time, banking industry was boring which was very different from that before 1930s and after 1980s. In terms of ethos, he contends that several financial experts foresaw the economic disaster coming such as Raghuram Rajan of the University of Chicago, a former chief economist at the International Monetary Fund (par. 12). The author use history events and data as evidences of his arguments. For instance, he contrasts the movements of the three main eras of the U.S banking systems. Besides, he also examines the amounts of debt in the U.S. banking industry to conclude that high ratio lending can lead to a depression. Through these ways, the author makes his argument strong and logical.

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