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As a result, the USA witnessed a growth in suburbs. Then the 1970’s recession destroyed the predominantly industrial cities and created a way for the growth of the knowledge sectors and new geographic centers.
The economy suffered from the inefficiencies arising from the manufacturing era. The West Coast experienced a boom, but many cities focused on cheap yet appreciating housing, turning it into its main industry. Yet, as Florida (2009) outlined in his article, such development was too one – sided so that once the crisis occurred, the housing markets crashed, as did the local economy’s major industry.
On the other hand, places such as New York have survived and will remain centers of innovation and progress. The latest developments have favored flexible, innovative and international labor force. Moreover, areas harboring such labor force are also diverse in terms of the skills and services these individuals provide. Such a labor force creates new ideas and easily takes over the economy once one segment of that economy falters. For example, whereas the finance, housing and industrial sector suffered, academics and scientists benefitted from this crisis, and so did the cities harboring them, thus creating new spatial fixes around which new forms of social structures will form.
The social structure will change over the next decade or more. According to Florida (2010), the high paying workers will profit from their creativity just as the workers in the manufacturing areas benefitted after the Great Depression. Moreover, suburbs and their communities will become denser, more diverse and connected, responding to the need for fast communication, production and delivery of ideas. A change in homeownership will arise, where renting will become more widespread, increasing mobility of workers. In short, Harvey (2001) borrowed the term
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Stated otherwise, at this moment, US economy as a whole is strong. Tilton (2011) cited two main factors as the basis of this prediction. The first reason is the stronger private sector balance sheets in America. To note, before the financial crisis, America’s private sector was spending beyond what it can only spend (Tilton, 2011).
This essay gives an explanation of phenomenon of the contemporary economic trends that appeared in the Western Economies that witnessed existence of both high unemployment and high inflation at one and the same time. The researcher also the salient factors as well as requisite monetary and fiscal measures.
Presently in the US, there is slow growth and escalating unemployment; the main sources of apprehension. However, the FED will maintain the funding rate pending 2014, which is a giant push. It forecasted that the economy will develop more than 2% the following year, which is good news.
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).
This essay mainly focuses on the assessment of the current macroeconomic developments in the United States. The issues arising from selected policy prescriptions are discussed with reference to government expenditure for maintaining social security system in US. Alternative policy solutions to current crisis are also presented in the paper.
HRM comprises different activities, practices along with policies on the basis of which, operations of the employees are managed, evaluated, developed and maintained. The prime objective of HRM is to maximise the productivity and the contribution of the employees towards the attainment of the desired organisational goals.
thy countries in the world, America has shown that people already started to use line buses instead of their cars in order to cut down their daily expenses. An average American normally doesn’t have the habit of saving money for the future whereas the Indians and the Asians in
And when asked about the effect of government efforts to handle the situation, majority believe the economic policies have just benefited corporations, the rich, and large banks than small businesses, the poor
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