The collapse of the housing market and unemployment caused the most damage. Between 1991 to 1992 unemployment had gone back up to 2.6 million. Negative equity meant home owner were paying mortgages far higher than their homes were worth. Many people could simply not keep up with the increased prices and resulted in them losing their homes due to the bank repossessing them. The recession hit close to home for the Tories, effecting the middle class not just the working class of the industrial north.
The poorest nations on Earth are usually categorised by the term LDC, meaning ‘Least Developed Country.’ These low levels of development make it harder for the county to develop any further. Sierra Leone is an example of an LDC, and is at the bottom of the UN’s league for human development. Sierra Leone has a high level of dependency on its raw materials for income, Diamonds and Iron ore are highly sought after and the main consumers of these products are the industrialising and high level consumption nations such as China and the U.S. The issue is that these products are mined and manufactured by foreign companies. If the LEDC had the high enough levels of development it could educate it population and these profit providing process could be taxed and boost the economy of the LDC to allow such infrastructure to grow.
However, after four decades of aid receiving, poverty is still the biggest challenge in Africa. Data show that overall foreign aid has failed not only to promote economic growth but also to improve the lives of the people on the continent. As such, poverty has even worsened around the African continent. The World Bank (2008) reports that the number of poor in Africa has nearly doubled, increasing from 200 million in 1981 to 390 in 2005 despite massive foreign fund inflows. Furthermore, Dambisa Moyo (2009) in her much acclaimed book Dead Aid goes further by highlighting the failure of aid in Africa.
The article “No Babies” by Russell Shorto discusses how the population in Europe is drastically decreasing because the low birth rate and higher death rate. He discusses how the birth to death rate is very unbalanced as well, which is a result of the declining population. European culture is feared be lost due to the fact that the majority of the European population is mainly made up of older generations and few younger. In the article Population “7 Billion”, Robert Kunzig discusses how the population worldwide is increasing drastically. He discusses that although the population is growing, our planet may not have all the resources it needs to accommodate the growing population.
The benefits of globalization are unevenly distributed, and it causes hardship for poorer countries. The gap is widening between developed and developing countries. About two-thirds of the developing countries remain on the margins of the globalization process and are considered "nonglobalizers." Globalization can result in unemployment as businesses relocate operations to lower-cost areas. Many of these outsourced jobs don't pay decent enough wages to lift workers out of poverty.
2012 People In Kansas live 2.8 Millions people (2008). Nearly 360‘000 live in the biggest city Wichita and about 120‘000 live in the capital Topeka. The unimployment rate in Kansas is 6.9%, which is not that bad for the USA. Consequently Kansas is in the best quarter of the US. The worst rates have California, Rhode Island, Nevada and Puerto Rico.
Also in the wake of the war our national credit score had dropped dramatically and was close to a record low making it nearly impossible to finance necessary operations of the Federal Government. The economy was crumbling and something needed to be done fast to fix the problems. Alexander Hamilton had encountered similar problems during his time as the secretary of treasury and had created a solution by introducing a national bank along with other acts such as assimilation. Following his lead a bill was passed enacting a charter for a second national bank, this was just five years after the first was allowed to expire. This bank was successful in improving and stabilizing the economy as well as claiming the power the regulate banks all around the nation.
98% of people who do not have access to education live in developing or third world nations, this is a serious issue when looking at why poverty and low standards of living are so dominant. Since 1970 the levels of illiteracy have dropped considerably, from 37% down to 16% in 2006. This is due to the population growth around the world with rural areas still underprivileged and without access to education. 80% of the world’s population who do not have access to education live in rural areas. Figure 1 above shows the number of children that are not currently getting an education in developing regions.
In spite of many recent economical, political, and social achievements, Afghanistan is still ranked as the fourth poorest country in the world, according to the Afghanistan 2007 Human Development Report. One of two Afghans is classified as poor, with more than 20 percent of the rural population consuming less than the average daily calories. Historically, the drought of the nineties, the destruction of basic infrastructure, the damage to institutional organizations, and the scarcity of skilled professionals has been among the primary causes of poverty. Decades of war and foreign invasion has greatly impacted its political and social stance and essentially has destroyed its economy. Economic frailty and government dependence
Even though the stock market began to regain some of its losses, by the end of 1930, it just was not enough and American truly entered what is called the Great Depression. Before Black Tuesday, the economy had been stagnant for months prior, and the effects of the market crash were compounded due to the use of margin, and the general lack of market regulations at that time. The use of margin means people had borrowed funds (Doc K). This led to a spiral of falling prices. With significantly reduced wealth, spending decline, banks failed and on top of this drought conditions contributed to a lack of good crops.