Nobody downloaded yet

Impact of Recession on Inequality - Coursework Example

Comments (0) Cite this document
The researcher of the current paper claims that inequality is defined as lack of equality. It signifies categorization of persons based on circumstances and the degree of certain privileges. Inequality may occur in wealth distribution, expenditures, consumption…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.2% of users find it useful
Impact of Recession on Inequality
Read TextPreview

Extract of sample "Impact of Recession on Inequality"

Download file to see previous pages Many populations ended up with little wealth owing to dwindling asset prices. Therefore, the great recession played a significant role in the redistribution leading to falling in social welfare. The United Kingdom had a fair share of these challenges. The coalition government came up with policies during the period. However, whether those policies buffered the impacts of the great recession on several aspects of inequality received wide literature coverage. Therefore, assessing the impact of great recession on inequality within the UK forms the main objective of the essay. The essay illustrated the evidence for inequality in the UK by assessing several elements of inequality. Besides, it examined the impact of the great recession on economic inequality as well as redistribution in the UK and compare the findings with other OCED countries.
The great recession is one historical event that constituted watershed for many businesses. Economic literature reported that careless banking concepts played a significant role in its emergence as well as the entrenched social inequalities (Jin et al., 2014). Inequalities are associated with stagnant consumer income. The most affected level of incomes was the middle and the lower class. The IFS (2015, Living Standards) found that young people had suffered the most in terms of income over the course of 2007-08 to the present day. These were largely due to their reliance on the labor market for their income. However, these were in contrast to older people who saw their incomes rising over that same period. There were substantial changes in the cost of housing because of mortgage interest rates plummeting. The change improved the position of people who own their homes, the middle, and top of the income distribution leaving the lower cadre in jeopardy (Cribb et al., 2012; 2013).
The coalition government took office after the Great Recession, just as household incomes were beginning their subsequent and inevitable decline. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(Impact of Recession on Inequality Coursework Example | Topics and Well Written Essays - 3500 words, n.d.)
Impact of Recession on Inequality Coursework Example | Topics and Well Written Essays - 3500 words. Retrieved from
(Impact of Recession on Inequality Coursework Example | Topics and Well Written Essays - 3500 Words)
Impact of Recession on Inequality Coursework Example | Topics and Well Written Essays - 3500 Words.
“Impact of Recession on Inequality Coursework Example | Topics and Well Written Essays - 3500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Impact of Recession on Inequality

Impact of Global Recession

...Impact of Global Recession Introduction The Global Financial Crisis initially started in the United States of America in 2008 and gradually spread all across the world. Initially, there was a failure of financial markets, which led to the recession. Such a recession was experienced for the first time after the Second World War. Various institutions in the financial market had started to fail, which had spiraled a series of event, which led to this whole crisis. On September 2008, Lehman Brothers, one of the largest investment bank in the US failed. This eventually led to lose of confidence and a domino effect was seen when other banks started to fail. After a call of...
11 Pages(2500 words)Essay


...?Inequality and Nationalism at the Vancouver Olympics Nationalism is a concept that can be difficult to comprehend. In its simplest form, nationalismrelates to the general idea of belonging to or identifying with a group. Typically nationalism is equated with a nation which is generally thought of as a country or state such as Canada or the United States. However, there is a great amount of criticism for the idea of nationalism as not everyone agrees on what constitutes a nation. This particular debate came to the forefront during the 2010 Olympics which were held in Vancouver. In particular, the controversy centered around the discontent felt by the Indian tribes of Canada and the perceived inequalities...
3 Pages(750 words)Essay


...?First M. Number Macroeconomic Principle: Recession Introduction The recent economic report of Pylas and Rising(2013) is related to one of the macroeconomic principles -- recession. The report announced the unexpected drop of Germany’s economic output/income. Also, economists forecasted that the contraction is not permanent; however, the abrupt shifting has worsened the EU recession (Pylas & Rising, 2013). In world market, this may result to the withdrawal of investments and collapse in confidence. For instance, countries worldwide may withdraw their investments in Germany, as they believed that the latter’s economic frame is unstable, and would just compromise their own problem....
7 Pages(1750 words)Research Paper

Impact of Recession on the UK Economy

...Impact of Recession on UK Economy Recession in UK has travelled down from the failure of banks in US. The cascading effects of globalisation have made almost all major economies around the world vulnerable to the recessionary trends. The result of all this is the debt of financial sector has risen sharply from (Calbreath, 2008). It now stands at 74 percent higher than it was in 2000 and 10 times higher than in 1980. Quoting the figures from the Office for National Statistics, Monaghan (2009) indicated that the GDP figures recorded a dip of 1.5 percent in the final quarter of 2008. It was around that time when the government realised the seriousness of the issue. There are indications...
8 Pages(2000 words)Essay


...Bringing Back The US Economy To Life One of the things that the US economy is facing today would be recession. This is called to be the when a certain country’s economy is experiencing a slow down that has a lot to do with financial aspects. Now, we all know that the US is again facing recession and forecasts say that although this is not the first recession the country is facing, if this still continues, the next one could be fatal (Rampell, C., n.d.). So, what could be the solution to this? Well, a lot of economists would say that it would be best for the United States to focus on increasing consumer spending to be able to gain business cycle expansion which I strongly agree with as I...
1 Pages(250 words)Essay

How has the recession impact men's life

...How Recession Has Impacted Mens Life One of the most significant factors that have affected people’s lifestyle today would have to do with recession.For how many years, recession has been changing economic, political, and social activities of the United States which was spearheaded by the fall of what people thought are invincible names in the business industry. Though recession principally caused distress on the Americas, it did not take so much time to make itself felt in the other countries. Thus, to better understand recession and its impact on men’s life, it is best to widen the scope of study from different countries to the different industries that are experiencing the effects of the economic downturn. "Recession, Poverty... and how...
2 Pages(500 words)Essay

Global Recession And Its Impact On Organizations

...Global Recession And Its Impact On Organizations Introduction Global recession is one of the key challenges facing industries in the world. The most affected organizations are those in the west. All these have been attributed to poor political leadership. Economists have always provided conflicting information about the situation. The duration for which the crisis should be expected has never been made clear by economists. Governments all over the world are making efforts towards correcting the situation but the impacts of the corrective measure have not been felt so far leaving blames on poor leadership. Economic recession simply refers to an extended duration of international downturn economy-wise. Its effects on organizations... crisis...
5 Pages(1250 words)Essay


...Recession Recession is a large decline in economic activities across the economy. Recession can last for some months and it is usually reflected in real gross domestic product (GDP), employment sector, industrial production, wholesale and retail sales as well as real income (Knoop 13). In simple terms, recession is when businesses can no longer grow or expand, the GDP diminishes for two swapping quarters and the rate of unemployment rises as the prices of housing come down. There are many factors which can contribute to the falling of economy into a recession, but the main cause is inflation. Inflation is the general rise in the prices of goods and...
2 Pages(500 words)Essay

Impact of trade on Inequality

...Impact of Trade on Inequality Impact of Trade on Inequality Contribution of equality within trade A key aspect of openness is that the developing countries and the poor individuals living in them usually benefit. Pre-openness economists held the viewpoint that the poor usually gain adequately through the global trade. Other parties also viewed that a substantial part of global trade benefits is directed to the poor. This implies that trade functions in the direction of reducing absolute poverty by enhancing economic growth and not advancing inequality. However, the benefits that come from openness do not benefit the poor since they are ripped by the rich....
1 Pages(250 words)Essay


...A STUDY OF THE 2008 RECESSION By of the of the of the School 9 March Introduction The 2008 recession generated global financial crisis (GFC) that most countries in the western world had least expected since a similar one that occurred approximately six decades ago. The world economy has since the great depression of the 1940s experienced several declines normal in economic cycles, and later recovered easily. Most declines have been trivial in the regional and national levels, with the exception of a few serious cases like the East Asian crisis of 1997 (Radelet and Sachs, 1998). It triggered short and long standing effects in nations, some of which are yet to fully recover. The beginning and...
6 Pages(1500 words)Essay
sponsored ads
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.

Let us find you another Coursework on topic Impact of Recession on Inequality for FREE!

Contact Us