quora
Nobody downloaded yet

Economic recession - Essay Example

Comments (0) Cite this document
Summary
We have been hearing the world's most popular and much hated term day in and day out since last year called the 'recession.' It has infiltrated our lives and now seems almost alien and scary with the power it seems to possess with millions of people losing their jobs and even huge companies like GM and Chrysler requesting the Obama government to help them and bail them out…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.6% of users find it useful
Economic recession
Read TextPreview

Extract of sample
"Economic recession"

Download file to see previous pages Generally, in any expanding and fast-growing economy, after an initial growth phase of six to ten years, it is followed by a slowdown or a recession for a minimum of six months to a maximum of two years. This is the normal cycle that any growing market follows in a normal and regular economy. The recession is an unfortunate occurrence and it still pretty fresh in the mind of the people all around the world. Unfortunately, mistakes of a similar nature were made time and again and this repeat performance has again resulted in a scary and terrifying financial crisis all over again.
Nearly eighty years ago, towards the end of the year 1929, a series of events occurred in the United States that resulted in disastrous consequences. It gained notoriety as the 'Great Depression' and to this day people still shudder at the thought of what the world faced in terms of the deflation, poverty and unemployment that it triggered off nearly a century ago. The debilitating phase lasted for close to a decade. The banking system collapsed in the year 1932. There was absolutely no free currency available in the market for any activity that would spell a positive change in the market trends. People held onto whatever cash they had as the price of goods were falling and a number of essential goods and commodities could be bought at the lowest imaginable cost. It was precisely at this time that President Roosevelt stepped into the picture with his New Deal programs to increase the opportunities for employment and increase liquidity. A number of government-led initiatives began to better the troublesome situation.
Since the end of the Second World War, the United States has suffered nearly ten recessions. However, it is puzzling to learn that we have once again caught ourselves in a treacherous bog that closely resembles the situation described above, once again in the twenty first century.

To quote a few numbers now, the Commerce Department reported that there was a deficit on international trade in goods and services last year to the tune of $677.1 billion compared to $700.3 billion in the year just before that. As consumers began to spend lesser and lesser and this in turn dwindled the growth of the market and resulted in the slowdown of the economy, the deficit in the trade was relatively smaller in the year 2008. Deregulation resulted in trade deficits and contributed to them in a direct as well as an indirect manner. Until and unless appropriate laws are established to control this kind of unprecedented trade volume, the economy cannot be and will not be restored to normalcy in the future.

Last year, a $144.1 billion surplus was recorded for trade in services in the United States compared to an $821.2 billion deficit on trade in goods. $293.2 billion was the deficit on petroleum products in the year 2007, while last year it went up to $386.3 billion. The overall volume of import of petroleum products fell by an astonishing four percent in a single year.

Ian McCafferty, CBI chief economic adviser says, "Given the rapid contraction in global economic activity and the continuing credit squeeze, we believe the UK will be mired in a deep recession for the whole of 2009, lasting six quarters in total and accompanied by a significant rise in unemployment." It is shocking to know ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Economic recession Essay Example | Topics and Well Written Essays - 3000 words”, n.d.)
Retrieved de https://studentshare.org/sociology/1521382-economic-recession
(Economic Recession Essay Example | Topics and Well Written Essays - 3000 Words)
https://studentshare.org/sociology/1521382-economic-recession.
“Economic Recession Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.org/sociology/1521382-economic-recession.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
The Economic Recession: UK Responses and Theory Analysis
The same paper continues to say that it would be the greatest tragedy if people continue to say that they did not see it coming because it will happen again. The recession did not hit the U.S. alone but the whole world. Its effects were felt even in the small cities across the globe.
7 Pages(1750 words)Essay
The Role of Government in Economic Recession, Fiscal Policy
In this quarter the level of GDP declined as a result of the decline in customer spending by 1%, this decline was as a result of the high levels of unemployment in the economy. (Alan Rapperport (2009)) The current recession is considered the longest since 1947 and due to increased government spending the budget deficits this year is expected to reach $1,600 billion.
4 Pages(1000 words)Essay
Causes of the Economic Recession
Many indicators of macroeconomics vary in an almost similar perspective and this includes the measurements of production which are investment spending, incomes of the households, employment, investment spending and business profits. During an economic recession all these indicators are at low levels.
10 Pages(2500 words)Essay
Analysis of the Sustainability of Nordic Welfare Model in Times of Economic Recession
This essay mainly focuses on the main challenges, which the Nordic Welfare model is currently facing. Nordic countries were always accused of charging a high individual tax rates as well as high corporate taxes. The demographic shift in Nordic countries also presents an important challenge for the viability of their economic systems.
9 Pages(2250 words)Essay
How can Human Rerources Make a Strategic Contribution to Organisations in a Time of Economic Recession
Behavioural pattern of the consumers are found to take a changing trend where they start preferring the medium class hotels to the premium ones in that they render menus at lower or medium prices than the star category hotels and restaurants. The cheaper hotels though tend to attract large amount of consumers through offering menus based on cheap prices need to invest largely on promotion and public relation activities to help sustain its position in the industry.
10 Pages(2500 words)Essay
Economic recession and human behavior
The financial life that has been carefully cultivated by many individuals is being hit by dropping investment returns and banking policies that adversely affect credit. As unemployment and inflation change the nature of a culture, domestic violence and criminal behavior can
17 Pages(4250 words)Essay
How do economic recession affect people's behavior
Market process theory suggests that the sum total of knowledge is continuously increased by individual customers who come to the market place to trade their resources and ideas. In this process, the benefit is accruing not
2 Pages(500 words)Essay
Economic Recession of United Kingdom
An overall deceleration of economic activities and business cycle reductions are defined as recession in economic terms. However, no standard definition exists but generally, a period of falling economic activity is characterized as recession.
4 Pages(1000 words)Essay
To what extent does a social phenomenon, like the 2008-to-present economic recession, influence or cause health behaviors
They can influence everything from our lifestyle choices to our career preferences. One such social phenomenon is the current economic stress being experienced all over the world and it has an enormous effect on our health
3 Pages(750 words)Essay
How airlines have been effected by the economic recession and how they adapted
Most of the airlines are not only adopting cost effective strategy but also trying to create differentiation which would make it attractive to the customers. In the contemporary
2 Pages(500 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 Essay on topic Economic recession for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us