This website uses cookies to ensure you have the best experience. Learn more

The Contemporary Great Recession And The Global Financial Crisis

953 words - 4 pages

Since the advent of the subprime crisis in 2007 that it is commonly believed to have led to the Great recession and to the present global financial crisis, these issues have been subject to much research. In fact, no one can claim that the Great Recession and the global financial crisis have been under-researched. In fact, the new world recession has been analysed from different angles and perspectives. Historians, economists, financial experts, psychologists, anthropologists and other experts in academic, financial, economic and other fields of research are still analysing the contemporary global financial crisis.
There is ample information on the new world recession, and upcoming documentations are bringing new knowledge on this newsworthy issue and topical research subject. While some researchers are focusing on the recession at national levels such as on the economy of the United Kingdom or on the United States of America economic market, others have tackled the subject from a global perspective focus on the recession on international trades and global markets. All these theoretical, technical and academic documents are complementary and indicate one thing: that the new world recession has entered discourse communities and contemporary academic and intellectual discourses.
Building on Foucault's conception, it can be said that new world recession has entered political, academic, social, financial and other public discursive fields. It is a concept that has been constructed by academics, intellectuals, politicians and leaders as intellectual and academic discourses. Hence, these discourses influence people’s perceptions and conceptions of their realities in that they help people give meanings to their realities.
Once, the new world recession became entered discursive communities and became discourses, it was transformed into an instrument of power, domination and economic colonization. This is one of the reasons why many intellectuals and academics claim that their discourses on the new world recession are the truth. For example, some nations believe that their macro-economic policy is the best solution to get out of this global financial crisis. They are spreading their roots to become the new hegemony.
However, these discourses also make possible the sharing of cues, ideas and values that contribute to a better understanding of the global financial crisis, its impacts, causes and implications. They facilitate the transmission of knowledge that is vital to find means to get out of the crisis and minimise the negative impacts of the recession. However, transmission also implies that these discourses influence people’s perception and conception of the new world recession. Hence, these discourses confer power to leaders and academics to manipulate the population to believe what they want the latter to believe.
The Great Recession of the late 2000s started with the subprime crisis in 2007 that has weakened the economy of almost all the big...

Find Another Essay On The contemporary Great Recession and the global financial crisis

The Global Financial Crisis and Its Impact

2217 words - 9 pages confident and security of financial markets. It was universally recognized the worst global economic downturn since the Great Depression in the 1930s (Ciro, 2012). Before the financial crisis, the increasing food and oil prices had affected the non-producers and because of the developed economies are more integrated within the global financial systems and markets, they were the worst affected by the GFC in the short term. Developing countries were

The Problem with Banks and the Global Financial Crisis 2008

1128 words - 5 pages . Systemic Disorder, “Nationalizing Banks Works for the Short Term; Why Not Permantely?” Systemic Disorder, October 2012. Web. 23 Apr. 2014 Tonkiss, Fran. “Trust, Confidence and Economic Crisis” Springer-Verlag, July 2009. Print. Treanor, Jill. “How much Capital should Banks really Hold” Business Blog, October 2011. Web. 16 Apr. 2014. Trumbull, Mark. "5 Lessons of the Great Recession." Christian Science Monitor. 08 Sep. 2013: n.p. SIRS Issues Researcher. Web. 23 Apr. 2014. Xafa, Miranda. "Role of the IMF in the Global Financial Crisis." Cato Journal. Fall 2010: 475+. SIRS Issues Researcher. Web. 23 Apr. 2014.

The Global Financial Crisis and The Regulation of Investment Banks

1271 words - 6 pages contacts of all players. Of all the changes in the financial environment, the global financial Crash of 2008/09 remains the most felled globally across all the sectors of the economy. The global financial crisis started as a crisis in the sub-prime mortgage market in the United States in late 2007. In 2008 the global economic and financial crisis caused recession among the industrialized countries leading to decrease in the world trade. The crisis led

Bank CEO Incentives and the Global Financial Crisis

3331 words - 13 pages financial crisis. They conclude, “This evidence recommends that CEOs took exposures that they feel were profitable for their shareholders ex ante but that these exposures performed very poorly ex post. Fahlenbrach and Stulz discover no evidence that the incentive arrangement of senior management lead to risk-taking that benefitted themselves at the expense of stakeholders or shareholders in the firms. Instead, they argue that given the important stakes

What caused the Global Financial Crisis (GFC)?

2212 words - 9 pages What caused the Global Financial Crisis (GFC)? This was the first global financial crisis since the Great Depression of the 1930s; it spread at an un-parallel rate across the world (Claessens et al, 2013). In the aftermath of the Great Depression it was universally believed by economists that the unregulated financial markets were to blame as they were fundamentally unstable, subject to manipulation by bankers, and capable of triggering deep

The impact of the global financial crisis on Chinese economy

3304 words - 14 pages Ligang Liu, Impact of the Global Financial Crisis on China: Empirical Evidence and Policy Implications, China & World Economy, 1-23, Vol 17, No.6, 2009 Fung, K.C.(2009), “Global and Regional Supply Chains and Chinese Exports,” presented at EAI Distinguished Public Lecture, National University of Singapore. Yuqing Xing(2009), The Global Economic Recession and Challenges to China’s Export-led Growth Strategy, Conference on Global Economic Crisis

The Fiscal Constitutionalism Theory facing the Global Financial Crisis

648 words - 3 pages In the 2008 a profound financial crisis has shaken the world economies and caused recession with bad growth prospects. This, with provoking high unemployment rates and welfare losses, has also shed a light on the weaknesses of the modern States. The markets, as underlined by the crisis, are globalized and the policies are no longer a National matter. The financial crisis have been followed by a more circumscribed and still sound sovereign debt

The Impact Of Global Financial Crisis On The United Kingdom

2669 words - 11 pages Introduction This report will look at the National Health Service, which is a significant part of the current welfare state in the United Kingdom. It is for people who would like to know more about health system of contemporary Britain. In this paper, it will begin by looking at the healthcare background and reforms, and will show how the NHS has affected British citizens. Finally, according to the current healthcare system, brief conclusions

The Impact Of Global Financial Crisis On The United Kingdom

7067 words - 28 pages The impact of the National Health Service on the United KingdomIntroductionThis report will look at the National Health Service, which is a significant part of the current welfare state in the United Kingdom. It is for people who would like to know more about health system of contemporary Britain. In this paper, it will begin by looking at the healthcare background and reforms, and will show how the NHS has affected British citizens. Finally

Global Financial Crisis and The BlueScope Steel Australia and New Zealand

2813 words - 12 pages whether this decision was economically and managerially sound we must first assess why this occurred. Following the Global Financial Crisis (GFC) of 2009 BlueScope was in its worst ever market position. As of 2011 the price of shares had hit record lows of 38c compared to $12.03 of just three years earlier, showing a 93% reduction in share prices. Huge financial losses were also recorded. In the 2010/2011 financial year BANZ reported a net loss of

Factors That Influenced the Global Financial Crisis of 2008

631 words - 3 pages Since the years of the great depression in the 1930s, the global financial crisis of 2008 is arguably the worst to have hit the world. The crisis began with the escalation of prices in the property market creating a liquidity crisis. It had massive consequences in varying sectors of the economy. The financial, property and mortgage sectors were hit hard by the crisis. Large financial institutions collapsed while stock markets experienced

Similar Essays

The Global Financitl Crisis A.K.A. The Great Recession

2184 words - 9 pages Introduction The Global Financial Crisis (GFC), also known as the great recession, has impacted economies on a global scale in 2007 - 2008. Its effects have been far reaching and prolonged, with economies still bearing the consequences more than half a decade on, although recovery seems to be picking up albeit rather slowly. A myriad of factors caused the GFC and can be traced back to even before the widespread issuing of subprime loans and

The Global Financial Crisis Essay

618 words - 2 pages the worst financial crisis since the Great Depression of 1930. Called “Occupy Wall Street”, the movement drew the attention of the media the world over. But what are the causes of the global financial crisis? How did we, or our governments, let it happen? The protesters seem to have found an answer. They blame but one thing: greed. According to protesters in London, it is the fault of the banking industry. Worse yet they blame their government

The Global Financial Crisis Essay

1000 words - 4 pages The global financial crisis has brought wide-ranging changes to consumer spending behaviour and consumption patterns throughout the world with the economic downturn impacting on the spending and purchasing power of people. The findings of a study conducted by Booz and Company in 2008 on consumer spending behaviour revealed that, firstly, the unprecedented confluence of the dramatic rise in oil prices, the substantial deterioration of housing

The Global Financial Crisis Essay

2812 words - 11 pages sellers have asymmetric in order. The strength of the financial structure is one of the major concerns of the central banks as the latest global financial crisis illustrate, financial system disruption can activate a pointed reduction in economic movement, damage the communication of monetary policy and weaken the well-organized portion of capital. The bad products or service are additional probable to be chosen. In adverse selection when bank