The largest cause was the crash of the stock market as well as “panics” by the banks. Some economists had their own beliefs about why the country had such economic troubles. Some believed that overproduction was a major factor meaning consumers did not want to consume all that was being produced. Factories would produce excess amounts of goods and it would just sit around because people in the society were not spending money. The people who were spending money were the poor more often than the rich; the poor were getting poorer and the rich were essentially becoming richer because even though there was no money to make, they were not spending.
Children growing up in poverty face many disadvantages such as unhealthy levels of stress making it near impossible to successfully complete college, thus making it harder to escape their surroundings. The poverty rates in some European countries are much lower than in the United States because of programs they have put into place to help the poor and unlucky, leading one to think the government should once again re-declare the war on poverty. Krugman’s article not only shows percentages he also lets his readers know what the findings were from scientific studies. Living in the conditions of poverty is stressful for anyone, much less children. I see the effects that poverty has on many people every day, and always think one day that could be me.
Perhaps the worst economic downturn in the history of the United States occurred from 1930-1939. The Great Depression led to domestic and international crises effecting the poor and wealthy alike. Many financial experts today continue to debate the cause of The Depression, although most agree that several events led to the economic decline. The famous stock market crash on October 29, 1929 is just one of many causes economists believe led to The Great Depression. Known also as Black Tuesday, October 29th left stockholders shattered with recorded losses reaching $40 billion dollars (Kelly, n.d.).
Seismic events prove that it is a problematic for the world's population and produce devastating effects on the lives of everyone involved. However it is often said that LEDCs suffer much more from the effects of earthquakes than MEDCs. Whilst this is a generalisation it is probably true, at least in terms of the human cost. Poverty is the condition of lacking basic human needs such as nutrition, clean water, health care, clothing, and shelter because of the inability to afford them. There are several levels of poverty from an individual to national level and earthquake disasters impact at all levels.
Farming and rural areas suffered as crop prices fell by approximately 60%. There were many causes of the Great Depression, ranging from poor spending and over production to banks failing and the stock market crashing. Paragraph 2: Due to the Roaring 20’s, people were overconfident due to the information given by bad leaders, which led to poor spending. Doc A+B: According to the business cycle, there was going to be a 5 year growth for everyone in the US. -They would all become rich and poverty would just go away (Words of President Calvin Coolidge) Doc C: John T. Raskob, a well-known economist, told people to buy more stocks and in invest in banks and you’ll become a millionaire.
Businesses also suffer when massive layoffs occur. When spending by households decreases, incomes decrease for the businesses. Governments are not immune from the effects of massive layoffs of employees either. When households spend less, and businesses are selling less, there is less sales tax to be collected by the government. Also, when employees are laid off there is less income tax to be collected and to make things even worse, former employees can collect unemployment benefits from the government.
On the other hand there that middle class of poor that knows nothing about the system or doesn’t have the resources to get a good lawyer they are screwed completely ruin your life and affecting some people around you. Several contemporary concerns impacting criminal justice professionals are, stress, finances, the economy, their family and friends, health and job security. I say stress because so many things can stress a person out this line of work. It can be the hours of the job, the clients, the court cases, etc. Finances can be a major worry especially if your budget is tight and so is your money.
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.
The method in which welfare is being reformed, including, but not limited to forcing people to survive off unlivable minimum wages and instituting harmful qualifications in order to receive welfare aid, is not an effective means of helping the impoverished. This has been true for about the past decade. Working for minimum wage does not provide a sufficient amount of income to survive. In addition, welfare now has qualifications that are harmful for those in need of support. Welfare reform is not on the right track to improve lives and is only going to exacerbate the terrible living situations of the penniless.
Based on Census statistics the United States has a child poverty rate that is more than twice as high as many Europeans nations. The Poverty rate for children living in the U.S has increased to 22% in 2010. The poverty rate for U.S. adults is only 13.7 % today one out of every four American children is on food Stamps. Also 50 percent of all U.S children will be on food stamps at some point in their lives before they reach the age of 18. There are also 314 countries in the U.s where at least 30 % of the children are facing food insecurity.