Assessment 3
Morris0403
EconomicChange............edited1revis.edited2.docRunning Head: ECONOMIC CHANGE 2
ECONOMIC CHANGE 2
Economic Change
Name
Institutional Affiliation
Date
Citation one
Lynn Brenner wrote the article in September 2013 because he realized millions of persons lost their homes, savings, and jobs when the economy fell. Based on the lessons learned in the recession of 2008, people resulted in too much borrowing of money from the banks and finally became held up because they could not quickly pay back the loans. The other lesion that they realized at such a wrong time as those who did save in the stock market had high risk in their business (Lynn, 2013). The majority of them had saved a lot with the hope that they will avoid the risks and uncertainties that may arise in the market, but that was not so. The other aspect learned is that your job is the greatest asset, and if an individual has to retire should stock enough for at least to take him for two years. The author was alive when the great recession, and he is not neutral at all but positive on how we should prepare to handle such a situation because they are not predictable at the time they come.
Citation two
The economic impact of climate change was written by Richard S J Tol and published on January 12th, 2018. It is a primary source of economic reforms. The main article reviews the economic impacts on the economy by the changes in the climate. There might be a positive aspect of it and the negative implications associated with climate change. The adverse effects are predominant over the positive ones. The result includes the growth rate of the global economy as the sectors such as agriculture are affected, making the low trades associated with agricultural products go down and even an increase in poverty levels. However, the impacts are not easy to be quantified. The author was present at that time of the event and is not neutral about the climate change concerning economic implications. Its variation from place to place impacts different areas differently.
Citation three
Christian D Romer wrote the great depression in the year 1957. He was alive in the time the depression occurred. The depression caused many economic severe challenges, such as it led to deflation, which affected the farmers, businesses, and even homeowners because the mortgage had not fallen as compared to other commodities in the market. Stock markets and commercial banks were wiped out, resulting in severe unemployment. Unemployment was increased as the government-imposed restrictions and barriers to protect local industries; therefore, many job opportunities were lost. The hardest-hit nation was the united states of America. The author is not neutral about the change but very negative on it. The depression led to a severe decline in the GDP of the country and weakened the economy ultimately. These lead to reduced economic growth to the private and government institutions, which declined in the performance in that particular period.
Citation four
The great recession and the tool required for the fight the situation was written by many authors, including David Boddy, on May 23rd, 2016. The article focuses on the recovery strategies that can help micro and macro economies flourishing after a recession and stimulate the present economic situation to be healthy. The article poses a significant challenge for lessons learned and how to prepare for the future job if a recession comes about. The report also takes about the substantial effects of the recession, including unemployment, which was due to many companies were shut down. Downshift of economic development because a lot of finance were directed toward foods and basic needs within the families. Impact of the recession on the state GDP was at a downshift, which majorly was because revenue collections went down, and most trades were not at stake; therefore, the flow of capital was low, which in turn caused the GDP to go down. The author is so neutral and talks on both sides if economic changes due to recession occur. The author was alive at the time of the recession but experienced the effect of the recession and the economic impact that it impacted upon the state.
Reference
Danforth, E. M., Weidman, J. E., & Farnsworth, C. B. (2017). Strategies employed and lessons learned by commercial construction companies during economic recession and recovery. Journal of Construction Engineering and Management, 143(7), 04017027.Retrieved from: https://scholar.google.com/scholar?hl=en&as_sdt=0%2C5&q=lession+learnt+from+recession&btnG=
Rothbard, M. N. (1972). America's great depression. Ludwig von Mises Institute. Retrieved from: https://scholar.google.com/scholar?hl=en&as_sdt=0%2C5&q=great+depresion&btnG=
Schanzenbach, D. W., Nunn, R., Bauer, L., Boddy, D., & Nantz, G. (2016). Nine Facts about the Great Recession and Tools for Fighting the Next Downturn. Washington, DC: Brookings Institution. Retrieved from:
Tol, R. S. (2018). The economic impacts of climate change. Review of Environmental Economics and Policy, 12(1), 4-25. Retrieved from:
