Global Economic Condition Great Recession of 2008-09 has slowed the growth of world output‚ especially in the developed countries like EU‚ USA‚ Japan and Canada etc. In the developed countries unemployment remains high at the rate of nearly average 9 per cent again income of the employed people remain stagnant1. Although the great Recession is on the way of recovering‚ more and more worker remain out of the job for a long time‚ especially young workers‚ medium-term growth prospects also suffer
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the past four years into the economic recovery session there has been some progress in the poverty rates. However‚ the rates weren’t significantly improved in the number of Americans living in poverty. It is always the same old story where the gains from the economic growth go largely to the wealthiest Americans‚ and I believe that there should be an end to this. If you could just hear me out‚ and listen to the solutions I have to reduce both poverty and income inequality. As we mentioned above the
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To what extent is economic migration a threat or a benefit to developed countries? Migration is the movement of people from one place to another. Migration can be international (movement between different countries) or internal (movement within a country‚ often from rural to urban areas). In this article we consider the impacts of migration on the individual‚ the place left behind by the migrant and the place hosting the migrant. We also consider the push and pull factors of migration. More people
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The Global Economic Crisis 1 THE GLOBAL CEONOMIC CRISIS: Causes and Consequences The Global Economic Crisis 2 The world has confronted numerous economic crises in the history which have caused a decline in international commodity trade‚ bankruptcies in almost all sectors of activity. However‚ the September-October 2008 Stock market crash has proven to be far beyond the preceding calamities. The financial giants have been able to manipulate the stock market and resultantly have devastated
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Economic inequality is the variance found in many processes of economic well-being among individuals in a group‚ among groups in a population‚ or among countries. Economic inequality is sometimes called income inequality‚ wealth inequality‚ or the wealth gap. Social inequality arises when resources in society are distributed unevenly‚ through the types of distribution‚ which create specific patterns along the lines of socially defined groups of people. It is the different preference of access of
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Inequality is the unequal distribution of valued goods and opportunities in a society. Over the past two decades‚ there has been an increase in economic inequality in the United States. Four major reasons for this increase is the changing relationship between technological expansion and education‚ deindustrialization and restructuring‚ government policies‚ and decline of unions. Technology in the United States has advanced immensely since the 1970s. This has led to peoples jobs being replaced
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THE IMPACT OF GLOBAL ECONOMIC CRISIS ON POVERTY ALLEVIATION IN NIGERIA BY: SALEH LAWAL DEPARTMENT OF PUBLIC ADMINISTRATION A. B. U. ZARIA NIGERIA Abstract This paper is set out to examine the challenges posed by the Global Economic crisis on government’s efforts of poverty reduction in Nigeria. Data used for the study came from both primary and secondary sources. The primary data were gathered through the instrument of questionnaire administered to 55 units
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and by extension‚ many of the rest of us‚ think about economic inequality today is influenced by what Aristotle wrote about economic inequality almost two and half millenia ago. In and of itself‚ this is somewhat remarkable. But more importantly‚ Aristotle’s idea that the problem with economic inequality is that the poor‚ if they gain power‚ will soak the rich remains both pervasive and persuasive. On this reading of Aristotle‚ economic inequality is ‘bad’ because it provides an incentive for the poor
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Poverty ‚ inequality & social security. What should the role of the State be in respect of social mobility? Additionally‚ there are two types of social mobility‚ and they are horizontal mobility and vertical mobility. Firstly‚ horizontal mobility refers to when there is a change in position of occupation‚ but no change in social class. For example‚ when an individual change his job from a managerial position in one company to similar position in another. Vertical mobility refers to when there
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A2 Macroeconomics / International Economy Costs and Benefits of Economic Growth The advantages and disadvantages of economic growth are fiercely debated by economists‚ environmentalists and other commentators. In this note we consider some of the economic and social costs and benefits from expanding levels of production and consumption. In particular we focus on the idea of sustainable growth. The Benefits of Economic Growth According to the UK government‚ ‘a healthy economy leads to higher
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