In previous years the United States have gone through some rough economic times. During the 1930’s the Great Depression occurred and the Great Recession occurred in 2007 and has helped shape the US into a better economy so that it does not happen again. Both events had some similarities and differences to why they occurred and how they affected the people at that When the economy falls during a recession this causes many things to happen in the as an effect. Unemployment rates rose increasingly. During the Great Depression the unemployment rates were at 25%, which is extremely high for that time, and the rates for the Great Recession was 9% which is comparable to then because there are more people in the world than there was at the time of the Great Depression.
In David Pongee’s article Terms of Confusion, he discusses Facebook 's new terms and agreements which stated that users gave the company perpetual license "to use, copy, publish modify, edit, frame, translate, excerpt, adapt, create derivative works and distribute any user content they post." This is a common theme among various social media platforms such as Twitter, Instagram, Snapchat, and several others. When an individual signs-up for an account on any social media platform, before they are able to have an account they must accept the terms and agreements of the website. Many people neglect to thoroughly read through the terms and agreements because typically these documents are several dozen pages (Pongee). Consequently, many users simply forfeit over their rights to their content without even realizing it.
Lowering tax rates was another economic change that people said lead to the recovery. Unemployment went from 10.8 percent in December of 1982 to 7.4 percent in December of 1984. Inflation fell from 10.3 percent in 1981to 3.2 percent in 1983. Industries that were hit the hardest during the recession made dramatic improvements; these industries were paper and forest products, rubber, airlines, the auto industry, construction and manufacturing, and the savings and loans industry. During the recession and towards the end of the recession in 1983, President Ronald Regan’s approval ratings were at an all time low.
On a Youtube video by Erick Qualman," Socialnomics 2018" states, "two in three people get their news from social media"(Erick Qualman). A lot of the internet is used for news. It helps us keep track of our government, pollution, politics and more. Furthermore, he also stated, "93% of buying decisions are influenced by social media (Qualman). The media is used for advertisements, and many people buy things online.
The Great Recession was a period of general economic decline observed by world markets beginning around the end of the first decade of the 21st century. The recession was a result of a financial crisis in 2007 which effected the years to come . The primary source of this problem was that banks were creating too much money. In addition, banks had doubled the amount of money and debt in the economy. Resulting in a financial crisis as the government and banks had failed to constrain the financial system’s creation of private credit and money.
1992-2010 data from Wolff (2012). Table 3 represents the share of wealth held by the bottom 99% and top 1% in the United States from 1949 to 2010. Change of wealth distribution is not favorable for the bottom 99% as this class obtaining less and less wealth while the top 1%’s wealth is expanding. The gap between the rich and the poor is increasing. This factor has not only economic drawbacks but social problems are increasing at the same time (Kennickel, 2003).
In the 21st century, where the Internet is widely accessible throughout the world, adolescents are able to connect themselves with people all around the globe via an array of social media websites, like Facebook, Twitter, Weibo, etc. As there are increasingly availability of features, for example instant messaging and chat-rooms, more and more adolescents engage in online dating to find their ‘ Mr Right and Ms Right’ to look for love and intimacy (approx 40 million globally in 2004: Jupiter Research 2006). Table 1 Stevens, Sarah B, Morris & Tracy L. College dating and social anxiety: using the Internet as a means connecting to others. Diagram. Cyber Psychology & Behavior.
It also effects banks and creates higher numbers of unemployment. However, what most people don’t understand is that recessions are a normal part of the economy that the world experiences. The U.S. is a mixed economy, meaning which it’s a combination of one or more of the following three characteristics; public and private ownership of industry, market based allocation with economic planning, or free-markets with state interventionism. In order to completely understand the causes of the current economic crisis it is most helpful to look back over to the post second world war period. From the 1950s to the mid 1970s, the rate of profit in the U.S. economy declined almost 50% and this critical decrease in the rate seemed to have been a piece of the general overall pattern during this period, influencing every single capitalist nation.
So the rich spend a smaller percentage of their income and people won’t want to work so hard if they feel like they are not being treated fairly. This is not the only negative effect of inequality in wage. Another effect is that the middle and the lower class will have to borrow a lot of money and that will add up to a point where they will have a hard time paying it back because the gap between wages will only become bigger. The rich will have the opposite, they will have more than enough savings, this can create bubbles. An example of a bubble is the 2008 crisis, they burst in time.
The decrease of imports and exports was one of the greatest causes of economic nationalism in Europe after the Great Depression. Even though imports were already higher than exports before the accident, the difference between the two was even higher afterward. This negative result of net exports caused a rise in economic nationalism with the intervention of European governments. Nationalists actions initiated when governments were put under pressure to impose deflationary policies. The trade deficit caused decreases in confidence and increases in political stability.
Introduction Australia’s oldest and one of the largest consumer electronics retailer Dick Smith Holdings (DSH) collapsed in January 2016 when its share price fell over 84% in less than 4 months. Its demise came as a shock to the industry and left more than 3000 employees jobless after closing down 393 stores in Australia and New Zealand. DSH was performing well at the stock market and expectations were high but its sudden collapse gives rise to a need to analyse reasons behind its failure to hopefully prevent such disasters in future. To effectively analyse the reasons for DSH’s failure, this essay examines various quantitative factors such as financial ratio analysis, stock market performance and Altman Z-Score bankruptcy prediction model, along with several qualitative factors such as industry challenges, weaknesses in corporate strategy and business model, accounting and regulatory issues, corporate
It then resulted in a recession. President Ford’s billion’s of dollars worth of tax cuts along with the extended benefits program increased the federal deficit of the US. The aggregate demand also increased. There were other tax acts during the 1970’s; however, they were trivial, and their economic impact was minor such as the Tax Reform Act of 1976 and the Tax Reduction and Simplification Act of 1977. The US Real GDP per capita kept decreasing every quarter of 1974.