Almost all the commodities made by different companies must have used fuel either directly or indirectly. All this has emanated from the US trickling down to the other countries; thus, becoming a global issue. Therefore, the rise of fuel and housing projects made the cost of the different commodities to rise resulting to the recession.
This recession has affected the social lives of people. It has led to the creation of social classes among the people in a society. This is where the rich people continue to be rich while the poor people continue to be poorer. The poor people, being the majority, might lose their jobs since the companies are not performing well while the management of the company, the rich, increase the prices of the products they are offering resulting to profits.
These profits go directly into their pockets. This means that the rich will not be affected in any way while the poor will suffer in poverty. This gap separates the two groups creating a distinct social class.
Recession has also created social evils in the community. This is because of the increased rate of unemployment. Many people have to find means of survival Bloomberg news, For instance, a parent has to find something to feed his or her children. In order to do this, he or she ends up engaging in social evils like prostitution and robbery. In America, the rate of crime has increased significantly due to recession.
Statistics indicate that prostitution is on the rise together with the black market Masko, Additionally, most people who are committing these crimes are doing it for survival to providing food on the table for their families. In the aim of searching for solutions, most countries are trying to bail out their companies from bankruptcy so that they can be able to survive in the tough times of the economy.
Another solution to the problem that the government is trying to use is through increasing taxes. This is for the purposes of reducing inflation in the country. This way, the government will be able to collect money in circulation thus reducing recession.
As a result, the rate of inflation will be reduced. Lastly, all nations in the world are coming together to help those countries that are mostly affected. This is because it is a global thing and as a global society, we must help one another. This will lead to student living with fear as their property is always at risk of loss and they are afraid of being harmed due to the violence that is associated with stealing.
The rise in crime rates will affects the concentration of students as they cannot fully concentrate on their studies because of concern on the security of their property. Crime rate also brings about insecurity around the campus since the affinity of students to steal has risen. This creates an in conducive environment for studying and thus the students grades will drop significantly. Parents are not able to support students effectively because some have lost their jobs due to employers downsizing firms.
This will cause a degree in performance of students because low standards of living give the student a hard time and thus they are not able to have concentration in their studies thereby affecting their performance in class.
In order to achieve good grades, peace of mind is essential to be able to grasp what is being taught during lectures and personal studies. This is evident by a survey done about the recession and its effects on students, where it reported that one in four students would receive less financial support from their parents or guardians as a result of the recession.
A survey done about recession effect on graduate employment shows that many students are scared that they will not be able to get employment when they graduate because of the recession.
Students will become extremely demoralized when they work so hard to get perfect grades, only to realize that there are no employment opportunities for them in the job market.
This makes some students even drop out if college to start self proprietor businesses in the attempt to make a living. Or in other cases, drop out completely since they cannot be able to pay bills as they no longer participate actively in part time jobs which initially enabled them to pay some or most of their bills like housing and school fees.
The tuition fees of most students is funded either by loans from the government or financial institutions. The recession leaves the students stranded with hefty loans because even after finishing college, they are unable to service their education loans since they are unemployed.
This notwithstanding, the heavy interest rates that are attached on the loans upon borrowing are attached to this effect. Budget constraints also affect a very sensitive department of student loans and aid. This department focuses on helping students have a smooth education by trying to meet their financial needs, I personally being a beneficiary of this program.
Cut backs on this department will force other students out of college and might lead to unrest in college which normally disrupts studies for a while. On the issue of budget cuts or budget constraints as a result of recession, we find that budget constraints affect the college programs, for example; course offering programs and general student activities like sports and extra curricula activities, outreach programs and inter campus programs among others.
We find that all these programs might end up competing for funding because of reduced funding due to the budget cuts; hence all of these programs have to consider taking the financial cut backs to coexist and allow the programs to continue even though they can barely start with these minimal funds.
The other issue is on the number of classes offered. There are fewer classes offered in college and this makes it difficult for students to meet their intended goals. This leads to students paying very high for tutorials since the college has no more tutoring rooms.
Free economic recession papers, essays, and research papers.
Introduction Recession can be defined as significant decline in general economic activity extending over the period of time.
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Free Essays from Bartleby | Introduction Greece’s unemployment rate has hit another highest record in May , which is %. Greece continues to suffer. Recession essay deals with he melting down of the economy which started in the US and gradually spreading to the whole world and the whole world experiencing a severe credit crunch. Recession essay defines recession as the decline in GDP which is Gross Domestic Product of any country for two quarters- it is the value.