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Economic Recession and Human Behavior - Thesis Example

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The paper “Economic Recession and Human Behavior” takes into consideration impact of the recession on such social factors as education, poverty, health, unemployment, crime rates, and mental health since it affects the average household income, education, and drives decisions about saving etc…
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Economic Recession and Human Behavior
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Download file to see previous pages The United States currently finds itself engulfed in a deep economic crisis which is likely to have far-reaching consequences which are not limited to the macroeconomic factors alone. The extent and magnitude of the economic turbulence that the country is witnessing today are likely to have a widespread psychological impact on human behavior. The negative ramifications of such setbacks range from depression to violence and crime. The probable impact of the current economic recession threatens to disrupt the economic as well as the social fabric of the society that we live in and hence requires adequate consideration. Economic theories are mostly concerned with the availability and distribution of resources. Thus, any expansion or contraction of an economy has a direct impact on the labor market, wages and reduced opportunities leading to poverty and unemployment. Such apparent lack of legitimate economic opportunities available at the hands of the public leads to widespread discontentment increasing the chances of rising in crime and criminal activities. Although the relationship between crime and unemployment is highly debatable there is evidence presented by several researchers who link such type of human behavior during an economic crisis to cultural and societal attitudes. According to Urdang (2002), an economic recession followed by lower wages as well as unemployment and layoffs is believed to have caused insecurities, which is associated with social shame and disgust and hence has led to extreme human behavior culminating in suicides. 
Historical evidence warrants the fact that economic recession leads to extreme changes in human behavior often culminating in violence and sudden outbursts causing physical harm or injury to those around them. The economic recession in the early 1890s led to increased racial tensions in the labor market and further curtailed socio-political gains. This paper seeks to study, analyze and discuss the various likely consequences of the economic recession on human behavior. ...Download file to see next pagesRead More
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