Search results
Results from the WOW.Com Content Network
The March 2013 unemployment rate of 16.2% for workers under age 25 was slightly over twice the national average. Weak demand for goods and services is the primary driver of this unemployment, not a skills mismatch. Graduating in a bad economy has long-lasting economic consequences.
Others cite the frequent and recurrent economic crises of the economic cycle as examples of a general glut, propose various causes and advocate various solutions, most commonly fiscal stimulus (government deficit spending), a view advocated in the 19th and early 20th century by underconsumptionist economists, and in the mid to late 20th and ...
High and the persistent unemployment, in which economic inequality increases, has a negative effect on subsequent long-run economic growth. Unemployment can harm growth because it is a waste of resources; generates redistributive pressures and subsequent distortions; drives people to poverty; constrains liquidity limiting labor mobility; and ...
Keynes dismissed the classical view that the economy must naturally return to equilibrium.Instead, he concluded that if an economic slowdown occurs, for whatever reason, the panic and gloom that it generates among firms and consumers seem to become self-fulfilling, leading to a prolonged period of low economic growth and unemployment.
From 2001 to 2007, U.S. mortgage debt almost doubled, and the amount of mortgage debt per household rose more than 63%, from $91,500 to $149,500, with essentially stagnant wages. [2] Economist Tyler Cowen explained that the economy was highly dependent on this home equity extraction: "In the 1993–1997 period, home owners extracted an amount ...
RR 2010a [Growth in a Time of Debt] is the only evidence cited in the "Paul Ryan Budget" on the consequences of high public debt for economic growth. Representative Ryan's "Path to Prosperity" reports (Ryan 2013 p. 78): A well-known study completed by economists Ken Rogoff and Carmen Reinhart confirms this common-sense conclusion.
Economic collapse, also called economic meltdown, is any of a broad range of poor economic conditions, ranging from a severe, prolonged depression with high bankruptcy rates and high unemployment (such as the Great Depression of the 1930s), to a breakdown in normal commerce caused by hyperinflation (such as in Weimar Germany in the 1920s), or even an economically caused sharp rise in the death ...
The European debt crisis is a crisis affecting several eurozone countries since the end of 2009. [7] [8] Member states affected by this crisis were unable to repay their government debt or to bail out indebted financial institutions without the assistance of third-parties (namely the International Monetary Fund, European Commission, and the European Central Bank).