A Cultural Problem, an Economic Crisis

In this paper I will compare two work environments from different times and prove how work today can be described as being precarious and unsuitable for our citizens in this rapid world today. I will be talking about my father’s experience working in the late 90’s to the early 2000’s as a legal assistant and as a lawyer in Toronto. I will be comparing his working environment to my accountant mother’s current experience working in Walmart as a part-time cashier. And I will be further discussing some of the ways in which work atmospheres today have changed for all position workers regardless of their career fields.

2008 Economics Noble Prize winner and Princeton University professor, Paul Krugman, translates the roots of modern and prior financial crisis economics. In his book, The Return of Depression Economics and The Crisis of 2008, Krugman first educates the reader of historical and foreign financial crises which allows for a deeper understanding of the modern financial system. The context provided from the historical analysis proves to be a crucial prospective in such a way that the rest of Krugman’s narrative about modern finance continually relates back to the historical analysis. From there, Krugman analyzes and updates his prior studies done on the Asian financial crisis. He then applies his knowledge from historical events to the modern day financial struggles and argues his opinion about how and why our financial world operates the way it does. Krugman explains his perspective that the world believed that depression economics was no longer a problem, however the Asian crisis, Japan 's liquidity trap and the Latin American crisis having acted as warning signals to modern market struggles. Thus he says that this subject needs further examination and more resources should be poured into it. For Krugman, Depression Economics is still a relevant problem and should be further studied.

Our nation faces many problems, and has for many years. Today’s generations, and especially the mainstream media, seem most concerned with social issues such as abortion and same sex marriage. While these issues are important, our economic situation should receive more urgent attention. Americans are desperate for better days, but lack a meaningful understanding of how our financial system works. Almost 100 years ago, the creation of the Federal Reserve Banking System was instated. One could argue that this system is the base of why we are 18 trillion dollars in debt, and rising. The Federal Reserve Banking System has contributed

It seems that there is never a time in the world where we can be assured that prosperity for a large percentage of the population is a safe bet for the foreseeable future. There always seems to be another financial crisis lurking around the corner, even when things seem the most settled. That reality can be a scary one for people to confront, since they have their own financial stakes to consider. If you are the head of a household or a family, this prospect can be even more daunting, since you also have to worry about the fortunes of those who count on you as well as your own. The stress from wondering what’s coming next from the economy at large can be unbearable at times.

Worldbank (n.d.) states, “Everything that grows also changes its structure. Just as a growing tree constantly changes the shape, size, and configuration of its branches, a growing economy changes the proportions and interrelations among its basic sectors- agriculture. Industry, and services and between other sectors-rural and urban, public and private, domestic- and export-orientated (para. 1) Hodson & Sullivan present that (2008) “A post-industrial society is based on services. Hence, it is a game between persons. What counts is not raw muscle power, or energy, but information” (Bell, 1976, p. 127). The essay will explain the work in modern America, including the positive and negative aspects of the service and knowledged-based economy and Americas place in the global economy. Discuss the interconnectedness of immigration, globalization, democracy, and corporate power, and how the changes in the workplace, and increasing service orientation of the economy has affected my life.

The banking crisis of the late 2000s, often called the Great Recession, is labelled by many economists as the worst financial crisis since the Great Depression. Its effect on the markets around the world can still be felt. Many countries suffered a drop in GDP, small or even negative growth, bankrupting businesses and rise in unemployment. The welfare cost that society had to paid lead to an obvious question: ‘Who’s to blame?’ The fingers are pointed to the United States of America, as it is obvious that this is where the crisis began, but who exactly is responsible? Many people believe that the banks are the only ones that are guilty, but this is just not true. The crisis was really a systematic failure, in which many problems in the

Throughout history there has always been some sort of a class struggle. The rich always seemed to get richer while the poor barely managed to get by. One of the main things that contributed to the ever-expanding gap between the rich and the poor was greed. Whether it was the greed for money or for power, greed was certainly a driving force. More recently, the greed of several, rich and powerful individuals helped to cause one of the largest financial collapses of modern times. The purpose of this paper is to establish some of the key players in the economic crash of 2008, and to show some common

Between 2002 and 2008, there was a global deluge of cheap credit, which led societies to indulge in luxuries that they could not normally afford. The author tours Iceland, Greece, Ireland, Germany and California to ascertain what went wrong. The book collects essays focusing on five areas of the world mentioned above. Essays about author's trip in the wake of the 2008 financial crisis serve as a captivating epilogue.

Changes in the way we work, the workplace and the role-assignment are not invisible to anyone. The fact that we work differently and our approach to work has changed is widely acknowledged in modern discourse. These changes can be attributed to numerous factors including cultural shifts, changes in cultural beliefs and values, need for better quality of life, rising cost of living, changes in science and technology and of course growing access to education.

The world economy faced its worst financial crisis since the Great Depression of the 1930s in 2008. The largest bankruptcies in the world has happened which resulting in over 30 million people lose their job and brought many countries to the edge of insolvency. It has shown that many people can’t find the job although they didn’t stop looking in finding for work and millions have lost their home in this financial crisis.

The labour process under a capitalist society has become distorted over time. James Rinehart explores this in his book “The Tyranny of Work,” where he ponders the recent evolution of labour in relation to the human condition. (Rinehart, 2006) An action which should look to promote personal and communal development now leaves employees alienated in several forms. We’re given a visual representation of this through the short movie “The Necktie,” and real-life examples of experiments conducted in Dan Ariely’s Ted Talk, “What makes us feel good about our work?” (Canada, 2017) (Ariely, 2017)

Continuity and change will be investigated through how todays adults experienced working as a teenager and how working changed their values as a teenager. Employment institutions in the past will be investigated and how they have remained or changed over time through industralisation and modernisation.

In order to understand identity work, we need to understand the changing role of organisational identity in contemporary organisation. Marx, Weber & Durkheim observed a shift from agricultural and craftwork to factory and office based work (Barley & Kunda, 2001). A shift from a more physical blue-collar labour to an office based white collar took place. Whilst computers and other technologies have eliminated different kinds of work, they have also created new ones and have transformed a significant portion of others, for example in IT industry (Barley 1988, Adler 1992). There are new struggles in the workplace¬, such as new identity intensive issues such as feminisation of managerial roles, the shifting meaning of professionalism and internationalisation of business activity. The increased number of women occupying managerial and professional positions, traditionally taken by men, has changed the former taken-for-granted meaning of managerial identity (Alvesson & Willmott, 2002). Taking all of these identity changes in account, Barley and Kunda suggest that the nature of work and organisation studies are interdependent (Barley & Kunda 2001), therefore, contemporary organisational theorists are forced to adapt to the change in the nature of work.

This wave of protest led to the establishment of a new type of management, which was believed to help workers integrate into the capitalist system, known as Post-Fordism (Dicken, 2003). Beginning in the late 20th century, Post-Fordism is characterised by any different attributes, such as smaller batched production, specialized products and jobs, new-age technologies, the rise of service and feminization in the work force, and the emphasis on consumer niche markets, as opposed to simply considering social class (Allen, 1992). However, due to limited wording, three main characteristics of Post-Fordism will be exclusively discussed; consumer sovereignty, the fragmentation of careers, and globalization in terms of the interactivity and future opportunities it encompasses.

According to the work examined in this study the global recession that occurred in 2008 and 2009 was partially a result of the financial industry's failure to be responsible for the decision it made in using financial instruments that were risk and very complex in nature. The culture of corporations were constructed on risk-based rewards instead of rewards that resulted in value for stakeholders. The financial risks that banks took on were not well comprehended by the public or regulators and the mass media also failed to understand the risks that the banks had entered into with certain financial agreements.