High mortgage rates destroyed the value of mortgage-backed loans, which is the primary asset of the savings and loans association. The fixed-rate loans were sold at a loss in order to balance withdrawals. That asset liability mismatch was identified as the primary cause of the savings and loan crisis. Jobs were lost and unemployment rose from around 7.5% to more than 10%. The recession caused a loss of 2.9 million jobs, representing a 3% drop in payroll employment.
Since the drug dealers Bourgois writes about are so accustomed to street culture, they do not understand how to adjust their attitudes on the job. Instead, they engage in “weapons of the weak”: refusal to perform as expected, unenthusiastic and uncooperative behavior, and petty theft. Bourgois further elaborates “this kind of disgruntlement, however, is particularly unacceptable in the new office service sector, where “attitude” — enthusiasm, initiative, and flexibility — often determines who is fired and who is promoted” (Bourgois 155). One can only imagine that with such behavior, there is less than a slight possibility for drug dealers to remain lawfully employed. However, these “weapons of the weak” are used because low-level service sector employees do not possess the appropriate institutional strategies to ease their
The PIC does more harm, than good, therefore, it is a poor system all-around. The prison system prior to 1973 was seen as an ineffective way of controlling crime, and Congress was starting to loosen up the drug laws; crime was declining quite tremendously, federal prisons were starting to close, and drugs were seen more as more
Another common cause of the Great Depression is the combination of overproduction and underconsumption. As a result from isolationism and prices dropping, many businesses were producing too much. Because of the low income, business started to lay off workers. Many business failed and countless were left unemployed. Their supply went up but their demand went down.
Other guests are not happy, new guests refuse to sit in the area because of the foul language, decreased income from no new guests. Possible danger to themselves and others on the road if they leave intoxicated. Step Three: Identify Possible Causal Factors What sequence of events leads to the problem? My co worker over serving the guests and not making sure they ordered food as well. Me evaluating them and deeming it unsafe to continue serving them.
India’s economy was not doing well during imperialism. They had to close down many of their industries, and stopped their growth. The British had taken over their industries, and were making a lot more of a profit than the Indians were. This also led to a drop of unemployment and poverty for the Indians, while they already had too many unemployed
In the wake of the financial crisis of 2008, many department stores struggled and were still able to remain in business while other department stores could not keep afloat and had to close their doors. By the end of 2008 the world 's major economies were in recession. This led to almost two million jobs lost in the U.S. This also resulted in the rate of unemployment rising to 7.2%. Due to the huge amount of layoffs taking place, the monthly income of families were dropping causing for dramatic cutbacks in consumer spending.
Film becomes a commodity, as opposed to an art. And as film loses cognitive and emotional value, it diminishes in monetary value as well. People do not want to spend money on something that is simply serving as mindless entertainment for 90 minutes, thus the film industry is thrown into a vicious circle. Consumers do not want to spend money to see a movie, so they obtain it illegally, which results in studios not bringing in enough revenue to support filmmaking, thus causing the production of brainless comedies or brand laden, borderline advertisements. We are then led back to the start of the circle, wherein consumers refuse to spend their money on these lack lustre
Q.1: What micro environmental factors have affected Target’s performance over the past few years? Over the past few years, following are the factors that have affected Target’s performance: 1. Competitors: Walmart’s strategy of providing products at a very low price, affected the consumers in the economic crisis of 2008. This led to Target’s decline in market share as Wal-Mart had a huge micro environment affect as a competitor. 2.