Great Recession on Economics Essay

December 7, 2022

Great Recession on Economics Essay

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Type of Project	ESSAY
Writer Level	PHD VERIFIED
Format	APA
Academic Sources	10
Page Count	3-12 PAGES

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Great Recession on Economics Essay

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Sironi, M. (2018). Economic conditions of young adults before and after the Great Recession. Journal of family and economic issues, 39(1), 103-116. Retrieved from https://link.springer.com/article/10.1007/s10834-017-9554-3

Over the past decades, the transition to adulthood has changed. Today, for youth an important indication of adulthood is self-actualization in the achievement of stable financial conditions and their professional career. Fluctuations in the economy and the government response that follows can have significant impacts on the economic conditions of the youth.

The article looks into the trends in income emanating from work for young adults before and following the great recession in five nations including Spain, Germany, Norway, the U.K and the U.S (Sironi, 2018).

The article found out that with variations, there was deterioration in the economic conditions of young men. Young women, on the other hand, suffered less from the recession and in some nations, there were improvements in their economic situation. Interestingly, the general downward trend was greater for those with increased levels of education as they have spent more time in school.

In past decades, adulthood was increasingly linked to the formation of a family (Sironi, 2018). However, it is today linked with self-actualization in finances, career, and education. The structure of the labor market has also evolved significantly with greater difficulties in finding employment and increased instability.

In the late twentieth century, only a small number of young adults had achieved financial self-sufficiency. This could be seen in indicators for earning above the poverty line in a three-person household and for a single-person household, and being in employment full time. The same was true even when welfare transfers were factored in.

Youth were more vulnerable to lack of employment as there was an increased difficulty to find employment and a greater risk of losing employment for those employed (Sironi, 2018). The author, Maria Sironi is a scholar at the University College of London under the department of social science. The author’s work is unbiased and there are no shortcomings in the article.

Matsubayashi, T., Sekijima, K., & Ueda, M. (2020). Government spending, recession, and suicide: evidence from Japan. BMC public health, 20(1), 1-8. Retrieved from https://bmcpublichealth.biomedcentral.com/articles/10.1186/s12889-020-8264-1

Austerity has been seen to have adverse effects on suicide rates and the mental health of individuals. Numerous studies have, however, only looked into the reactions of governments to the recession. The article looks into the most significant changes in the fiscal policy of Japan over thirteen years between 2014 and 2001.

There were dramatic decreases in expenditures for local and national governments in the first five years, influenced by the neoliberal reform. Expenditures increased after the great earthquake in East Japan and following the economic recession (Matsubayashi et al., 2020).

The article analyzed whether increased spending by local governments was linked to decreases in suicide rates by looking into forty-seven prefectures. The article also analyzes whether the link was salient in instances where the recession was most severe. Interestingly, the findings of the article indicate that a one percent increase in local governments per capital expenditure was linked to a fifth of a percent decrease in suicide rates among individuals of both genders, aged between forty and sixty-four years (Matsubayashi et al., 2020).

With increases in unemployment, the correlation was strengthened, especially for males. Therefore, the reactions of governments to economic recessions or crises can mitigate or exacerbate the negative impact of such events on individuals’ suicide rates and mental health (Matsubayashi et al., 2020). The author, Tetsuya Matsubayashi is a scholar at Osaka University under the school of international public policy. The author is unbiased and clearly ties the findings to the research undertaken.

Mattei, G., Ferrari, S., Pingani, L., & Rigatelli, M. (2014). Short-term effects of the 2008 Great Recession on the health of the Italian population: an ecological study. Social psychiatry and psychiatric epidemiology, 49(6), 851-858. Retrieved from https://link.springer.com/article/10.1007/s00127-014-0818-z

The article reports on the health effects of the great recession in Italy. It makes comparisons of scientific research and Italian data and the consistency between the two. It also looks into the consequences of the crisis on the rates of traffic fatalities, daytime alcohol drinking, suicidal behaviors in males, and cardiovascular and all-cause mortality.

The findings of the study indicate that all-cause mortality remained unaffected by economic fluctuations and remained stable at the onset of the economic crisis. However, cardiovascular mortality was found to increase significantly two years after the recession and was linked to unemployment rates (Mattei et al., 2014).

In the period of the greatest decrease in real GDP, a year after the recession, the consumption of alcohol increased. Even as the total rate of suicide was not linked with the economic crisis, male attempted and completed suicides were linked to the real GDP and unemployment rates.

Interestingly, increases in antidepressant diffusion were not linked to lowering suicide rates (Mattei et al., 2014). The findings of the study indicate that there was a correlation between the mental and general health of citizens and the economic crisis.

The author, Giorgio Mattei is a psychiatry scholar at the University of Modena. The author is thorough, unbiased and recognizes that there is a need to further research to help with in-depth understanding and increased reliability of the link between health and economic crises. According to the author, this would support secondary and primary interventions and guide the development of effective interventions both politically and socially.

Roozen, D. (2010). Holy toll: The impact of the 2008 recession on American congregations. Faith Communities Today. Retrieved from https://faithcommunitiestoday.org/wp-content/uploads/2019/01/Holy-Toll-Report.pdf

The negative consequences of recessions on organizations and individuals should not be dismissed or minimized. Recessions pass, however, and a majority of organizations and individuals rebound. Shortly after the recession, there were already predictions of a long and slow recovery, despite it not being felt at the local level. The article looks into the effect of the great recession on congregations.

Through a survey, the study found out that there were links between the crisis and human distress. This was evident in increases in requests for emergency housing, cash assistance and pastoral counseling due to the recession. Almost half of all congregations in the country received requests for cash assistance (Roozen, 2010). This underpins the importance of congregations as they are envisaged as social safety nets.

A quarter of all congregations also received increased requests for emergency housing. According to research, congregational vitality and health are greatly affected by conflict. This means that congregations were impacted by recession-influenced and strengthened levels of conflict.

Interestingly, there were significant variations in conflict levels for congregations that experienced stable or increased incomes during that period and those that experienced decreases in income and could not rebound (Roozen, 2010). The study found out that economic coping mechanisms included postponing capital projects, freezing salaries, and taking out savings.

Numerous congregations support the needy through outreach programs, which can also be joint with other congregations and mission giving. Moreover, the research indicated that two-fifths of all congregations ran a soup kitchen or food pantry directly and more than half collaborated with other groups to do the same.

Another interesting aspect of the impact of the economic crisis is that it affected all types of congregations similarly, regardless of whether they were struggling or financially healthy before the economic crisis (Roozen, 2010).

As the impact of the crisis was felt equally across numerous congregations, it might have helped mitigate the relatively resourceful, healthy, and increased and protestant bias of the non-representative studies of religious organizations in the country. The author, David Roozen, is a professor of religion in Hartford seminary and a director for the Hartford Institute of Religion Research. The author is unbiased and critically analyzes the impact of the economic crisis of 2008 on churches.

Córdoba-Doña, J. A., & Escolar-Pujolar, A. (2019). The Lasting Effects of a “Relentless Crisis”: The Great Recession and Health Inequalities in Spain. e-cadernos CES, (31). Retrieved from https://journals.openedition.org/eces/4223

The article employs a historical review of the Franco dictatorship, the democratic era and the period of the great recession. It focuses on the responses of citizens to austerity measures in the health system. It highlights movements including the white tide movement. The article indicates that such movements may have acted as buffers against the negative consequences of austerity measures (Córdoba-Doña, 2019). The article also reviews the most significant findings on the effects of the economic crisis in Spain.

The article includes a study that was aimed at evaluating the impact of the great recession on health inequalities and health in general. It emphasizes the previous political and economic contexts and the historical process with analysis going beyond precariousness rates, the steep increase in unemployment and the great decline in GDP.

The crucial role played by the high structural unemployment and cyclical change in rates of unemployment has persisted for decades. The real estate bubble burst at the onset of the recession (Córdoba-Doña, 2019). The bubble was caused by a lax credit policy and the breakdown of speculative instruments that were utilized and created by American banks and their insurance affiliates.

The white tide movement led to the realization of efforts to dismantle the country’s health system and privatize it in the agenda of state institutions and political organizations. Interestingly, such movements were proof that when citizen mobilization is sustained, extensive and unified, it can paralyze the processes of health system privatization (Córdoba-Doña, 2019).

Increased deterioration in working conditions for health workers and especially those in primary care led to reactions including demonstrations and strikes by health care professionals.

The article also reviews studies that indicate increases in mental health issues during the economic crisis. The main reason for the increased prevalence of poor mental health was attributed to changes in unemployment on the individual level (Córdoba-Doña, 2019). The author Juan Antonio is a researcher who is unbiased and critical of capitalism and the various ways that Spain suffered the consequences of the great recession.

References

Great Recession on Economics Essay

RUBRIC

Excellent Quality

95-100%

Introduction

45-41 points

The context and relevance of the issue, as well as a clear description of the study aim, are presented. The history of searches is discussed.

Literature Support

91-84 points

The context and relevance of the issue, as well as a clear description of the study aim, are presented. The history of searches is discussed.

Methodology

58-53 points

With titles for each slide as well as bulleted sections to group relevant information as required, the content is well-organized. Excellent use of typeface, color, images, effects, and so on to improve readability and presenting content. The minimum length criterion of 10 slides/pages is reached.

Average Score

50-85%

40-38 points

More depth/information is required for the context and importance, otherwise the study detail will be unclear. There is no search history information supplied.

83-76 points

There is a review of important theoretical literature, however there is limited integration of research into problem-related ideas. The review is just partly focused and arranged. There is research that both supports and opposes. A summary of the material given is provided. The conclusion may or may not include a biblical integration.

52-49 points

The content is somewhat ordered, but there is no discernible organization. The use of typeface, color, graphics, effects, and so on may sometimes distract from the presenting substance. It is possible that the length criteria will not be reached.

Poor Quality

0-45%

37-1 points

The context and/or importance are lacking. There is no search history information supplied.

75-1 points

There has been an examination of relevant theoretical literature, but still no research concerning problem-related concepts has been synthesized. The review is just somewhat focused and organized. The provided overview of content does not include any supporting or opposing research. The conclusion has no scriptural references.

48-1 points

There is no logical or apparent organizational structure. There is no discernible logical sequence. The use of typeface, color, graphics, effects, and so on often detracts from the presenting substance. It is possible that the length criteria will not be reached.