We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Northeast of England and Scotland economic situation and government measures - Essay Example

Comments (0) Cite this document
Summary
The purpose of this research is to investigate the following: Northeast of England and Scotland economic situation and government measures; Adam Smith’s and Michael Porter’s theories; Adam Smith’s and Michael Porter’s theories in Northeast England and in Scotland…
Download full paper
GRAB THE BEST PAPER
Northeast of England and Scotland economic situation and government measures
Read TextPreview

Extract of sample
Northeast of England and Scotland economic situation and government measures

Download file to see previous pages... This research will begin with the statement that The recession of 2008 brought enormous impact on the UK economy that affected various macroeconomic variables, especially employment levels in the country. This has initiated intensive discussion about the policies and approaches that can be engaged to help in revitalizing the economy. Several policy makers and socialist have come up with measures like industrial policy, investment in the education, subsidizing particular industries, and among others. However, which of the proposed policies can help the UK to recover from the recession drawbacks.  The problem led to rise of different ideas like that of Adam Smith, Michael porter and David Cameron. Thus, the paper will discuss each idea of the above individuals to ascertain their contribution on revitalizing of the economy.  Meanwhile, the paper will focus on the state affairs on the ground, and the ways the government is using to restore the economy. Northeast of England and Scotland are facing economic problems due to the recession of 2008 that affect societies and the labor market. Joanna claims that the recession led to the reduction in the economic growth that decreased the GDP in these countries because they could not employ significant measures to curtail the impact. The industrial sectors in Scotland and Northeast England have suffered for lengthy periods due to the problems of unemployment and economic restructuring. Joanna (2011, P. 160) indicate that the deindustrialization had made the regional economic situation weak, and the effect was expected to strengthen as the government sought to cut public expenditure. This was to prevent the individual dependence of these regions on public service jobs. The immediate impact of recession in these countries is the labor market that caused unemployment. This was as a result of decline in aggregate demand that caused private sectors to pay their wages decreased wages in order to meet the economic situation in the labor market. The adequacy of demand and increased unemployment has caused crowding out of the private sectors.
The reduction of wages in private sectors in these regions has limited the growth of demand and caused problems of relative demand shortage. The regional economies of Scotland are closer to full employment level and decreasing of the public sector wages against that of private sectors can enhance the competitive advantage in the private sector. The Scotland and Northeast England are the regions that suffered the most increases in household financial crisis due to the recession. According to Joanna (2011, P. 147), the comparatively rise in unemployment and economic immobility rates caused the decline in households prices that affected their lifestyle. The Scotland and northeast England have the lowest increases of unemployment because they participate in the traditional manufacturing and heavy industries that have suffered disproportionately before recession.
The instant problem of the recession in the two regions was the fiscal damage because all powerful politicians agreed on the requirement for public expenditure cuts. This would undermine the use of state expenditure to support the former industrial in these regions and women’s employment. Meanwhile, the new labor increased expenses on health and education did operate due to the type of undisclosed regional policy implemented. The government helped to expand employment right across the national economy in Scotland and northeast England, but it was significant where private sector job creation was weak. The dispersed expenditure on education and health were equally vital in achieving a new necessity for gendered employment in the regions. Joanna (2011, P. 149) indicates that the payment out of the banks undermined the national business environment and challenged the account of national economic transportation. To change the state affairs in the two regions, their governments have tried to encourage a ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Northeast of England and Scotland economic situation and government Essay”, n.d.)
Retrieved from https://studentshare.org/business/1396910-northeast-of-england-and-scotland-economic-situation
(Northeast of England and Scotland Economic Situation and Government Essay)
https://studentshare.org/business/1396910-northeast-of-england-and-scotland-economic-situation.
“Northeast of England and Scotland Economic Situation and Government Essay”, n.d. https://studentshare.org/business/1396910-northeast-of-england-and-scotland-economic-situation.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Government economic policy
Governments all over the world have targeted goals they want to achieve. I order to achieve their objectives they carry out economic policy. That policies of governments can be referred to as macroeconomic policy while the policies of smaller entities are called microeconomic policies. Both these sets of policies affect each other significantly.
8 Pages(2000 words)Essay
Northeast England and Scotland Economies
This study analyses the relevance and application of Adam Smith and Michel Porter’s ideas in the two economies with regard to the role of state and international trade in national economic development. Adam Smith attacked the antiquated government restrictions. In the article “Clusters and the New Economics of Competition” Porter explains how clusters promote high levels of productivity and innovations.
5 Pages(1250 words)Essay
Economic situation
Despite having the largest economy, the economy was hugely affected five years ago following the economic recession that occurred due to the financial crisis of 2007 and 2008. The crisis saw the economy of the U.S. decline to all time low ever witnessed for more than a century (Bureau of Economic Analysis, 2013).
3 Pages(750 words)Essay
Main differences in the approach to urban policy between Scotland and England in the period 1979-1987
Urban Regeneration Main differences in the approach to urban policy between Scotland and England in the period 1979-1987 Urban Regeneration Policy in Scotland Urban regeneration policy is an admitted term. This term refers to several activities of Scottish public agencies which are particularly directed at changing the fact that some urban areas in Scotland display an inadequate environmental quality, limited level of economic activities and poor economic and social conditions for their residents.
8 Pages(2000 words)Essay
Government Economic Policy
These two policies may sometimes prove to be harmful to an economy in that many scholars argue that an economy should be left at a state of laissez faire. This is to say that a government should not interfere with the working of an economy. These policies however have proved to be useful in the case where an economy is faced by high inflation or a recession; in this case the government will use an expansion ally or a contraction ally monetary or fiscal policy.
12 Pages(3000 words)Essay
Evaluate the different economic explanations of the current level of unemployment in the UK, discuss the economic and social costs and consider the policy measures available to the government to tackle the problem
A worsening unemployment rate in the United Kingdom is likely one of the effects should a global economic crisis erupt a few months or years down the road. In measuring unemployment, the United Kingdom Office for National Statistics (UK-ONS 2009, p. 7) gives emphasis on the
6 Pages(1500 words)Essay
Current Economic Situation
According to Florida (2009), the USA has undergone crucial economic and social transformations with each economic crisis. The technological improvements and the
1 Pages(250 words)Essay
What factors account for the current level of public indebtedness in the UK and what economic and fiscal measures can the UK Government use to reduce that level of debt in the next 5 years
In many countries of the world this situation has resulted in an increased budget deficit and national debt. National debt can be defined as the sum of money the any government owes to the non-public sector as well as other buyers. Reinhart and Rogoff
7 Pages(1750 words)Essay
Business cycles, indicators, measures, economic evolution,outlooks
Shrewsberry aged 48 to head the office. The incoming head of the office is faced with the responsibility of ensuring the wide range various businesses under the organization stay put,
2 Pages(500 words)Essay
Let us find you another Essay on topic Northeast of England and Scotland economic situation and government measures for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us