Cross cultural management - International Teams Essay

Diverse administration - International Teams - Essay Example during the discussion implies that the individual who is talking is sure and comprehends what he is discussing; while in others, for example, in Japan, it is considered as demonstrating lack of regard and eye to eye connection is abstained from during conferences. Thus, it gets significant for the organizations to comprehend the elements of culture, morals and correspondence in various work settings. As per Keogh (2012), the global groups or multicultural groups fluctuate and they have to assess four significant variables to guarantee that the group advances the correct way for example reason for the team’s presence, level of character contrasts impact, job and effect of both expert and social personalities and degree passionate intelligence’s significance alongwith the proper supporting frameworks. From the investigations of Taras and Rowney (2011), it is apparent that the groups need to initially comprehend the elements of the worldwide groups and settle on a shared objective. The group needs to comprehend the motivation behind its reality with the goal that each part has reasonable thought regarding their job and furthermore the standards and culture of the group too. The correspondence medium and association exercises must be settled on an accord way with the goal that the groups can have viable correspondence and everybody has clear comprehension about the team’s destinations alongwith the bearing. One of the best methods of dealing with the cross-culture issue among the gatherings is that the colleague should meet much of the time so every one of them have agreeable relations with one another and the guidelines of the group are set without hardly lifting a finger. Everything for the group must be portrayed in a composed structure with the goal that every part has a proof that they are a piece of the group and know about the achievements and the objectives that are to be met by the group. The most well-known issue found in the worldwide groups is that they have certain arrangement of inclinations for their work and remunerates and in this way, they dither to move out of that

Rational Choice Theory essays

Judicious Choice Theory articles Since the finish of WWII another and disputable hypothesis has emerged in the political theory world, the Rational Choice hypothesis. This strategy concerns itself all the more correctly with clarification and investigation rather then the customary engaging and critical technique for taking a gander at political marvel. As appeared in the article It isnt Rocket Science, yet... The sane decision researcher concerns itself more with the strategy by which an individual approaches settling on a choice when confronted with various other options. Notwithstanding, alongside the development of this new hypothesis, resistances to it have likewise risen. In the article When did Political Science disregard governmental issues the genuine unwavering quality of this hypothesis is tested. Subsequently, one must ask itself, is it conceivable to build up a widespread logical hypothesis that could apply to every single political region? Will Political Science be seen as a science? These are the issu es that these articles are revolved around. As referenced over, the primary article concentrates more on the genuine techniques utilized by a person when confronted with all the more then one chance or result. It takes a gander at what a people inclinations with respect to a ultimate result are and the convictions that direct the person in getting to which device he should use to accomplish their ideal result. In an absolutely basic manner, it considers an individual only as far as the things the person needs and the things the individual accepts. We need to discover how an individual settles on decisions when gone up against with options. Since political conduct is frequently about settling on decisions our model will give us hunches and instincts about how a nonexclusive or agent individual defies these conditions in the theoretical (1). To make it a stride further, the reasonable choicer accepts that all people are objective creatures. That is, they utilize their inclinations and convictions to come about creation choices i n their everyda... <!

More Nonfiction On LGBTQ History And Culture

More Nonfiction On LGBTQ History And Culture LGBT History Month isnt until October but Pride, celebrated each June in commemoration of 1969s Stonewall Riots, is an equally good time to read up on the history of LGBTQ life in the United States. Scholars  have recently turned their attention to recovering the stories of gay, lesbian, bisexual, and queer people that were hidden in plain sight disguised by euphemism, buried in family stories, or simply waiting for someone to bother looking. The four books on this list will, I hope, provide an entry point to this rich body of literature. If youre looking for even more books  on LGBTQ history and culture, check out our past post on Book Riot or the Lambda Literarys list of non-fiction books nominated for the Lammys. Theres also an incredible  #OrlandoSyllabus growing  on Twitter (and in a public  Google doc). That document, managed by Jamie Berrout, Venus Selenite, Oliver Bendorf, and Lydia Willoughby, centers the history and experiences of QTPOC.  All the books here are on the #OrlandoSyllabus but that document includes many, many more suggestions (as this goes to press, its 79 pages and still growing). Performing Queer Latinidad: Dance, Sexuality, Politics  by  Ramon H. Rivera-Servera, a scholar of performance studies at Northwestern University, explores the ways that performance, especially dance, created  a public culture of gay, lesbian, and queer Latinx identity. Rivera-Servera explains that dance and performance is explicitly  political even while it is celebratory and joyous. He studies the ways that sexual and gender identity intersect with class and ethnic identities inside dance clubs. More than perhaps any other book,  Performing Queer Latinidad  speaks directly to the reasons that the attack on Pulses Latin Night has extra levels of meaning.  This is  also a fairly accessible book that folks new to performance studies, LGBTQ history, or Latinx studies will find approachable. Plus, it  won (or was nominated for) a ton of awards from folks working in dance studies, anthropology, and LGBTQ studies. Perhaps most notably, it won  the 2013 Lambda Award in LGBTQ studies. What Color Is Your Hoodie? Essays on Black Gay Identity  by Jarrett Neal This collection of thirteen essays covers topics like classism and racism within the gay community, how black gay men are presented in pornography, and the authors own search for his identity. More personal and lyrical than an academic history text,  What Color is Your Hoodie is a good introduction to important questions about sexuality, race, and personal identity in the early 21st century. The Straight State: Sexuality and Citizenship in Twentieth-Century America  by Princeton University professor  Margot Canaday, chronicles the ways that the United States government both created and responded to the development of a homosexual-heterosexual binary in the early 20th century. This book is a great place to learn about how homosexuality became a state of being rather than a set of sexual acts. It also explains the ways that Americas bureaucracy failed  LGBTQ people. Pick this book up if youre interested in the intersection of immigration and sexuality, the military, or family policy.  Canaday explicitly ties the past to the present, states clearly the injustice of contemporary policies, and advocates for action. Stand by Me: The Forgotten History of Gay Liberation  by Jim Downs, an historian at Connecticut College, provides an excellent overview of gay rights in the 1970s. Downs story begins just after the Stonewall Riot and ends before the worst of the AIDS epidemic hits.  He argues that the 1970s were about creating community and building movement infrastructure, not just dancing, sex, and street protests. Downs work pushes back against a history of GLBTQ life that centers HIV/AIDS. By focusing on the development of religious organizations , newspapers, theaters, and bookstores that both built and served a growing LGBTQ community, Downs adds nuance to the narrative of gay rights in the decades from Stonewall to marriage equality. Please share your favorite books  on LGBTQ history in the comments or to the #OrlandoSyllabus!

Applying Learning Theories Of Learning - 1469 Words

Applying Learning Theory to Life PSY 331 Catherine Vivi Ashford University Instructor: Steven Peters February 9, 2015 Applying Learning Theory to Life Epistemology, or in other words, the theory of knowledge, is the study of knowledge, what it is, how we acquire it, and our justifiable beliefs that are included in that study. Generally, the study of knowledge is done through a philosophical method. There are four basic theories of learning; those are behaviorism, cognitivism, constructivism, and humanism; this paper will address these four theories of learning, in addition, we will address principles of learning, schema and scaffolding, adaption, metacognition, and strategies to ensure learning success. The term behaviorism refers to the school of psychology founded by John B. Watson. Behaviorism theory is based on the idea that behaviors can be measured, trained, and changed. In D. A. Lieberman’s book Psychology of learning (2012, Ch. 2.3), he states, â€Å"Watson believed that psychologists should be concerned with overt behavior rather than the hidden processes of the mind, and he argued for a greater concern with practical applications†. This this theory believes that all behaviors are acquired through conditioning. Behaviorism attempts to measure through observation of behavior, using the observations to control behavior through conditioning. The term cognitivism refers to the school of psychology based on how the brain processes information and memory. CognitivismShow MoreRelatedApplying Learning Theories3548 Words   |  15 PagesIntroduction to Learning Theories EDU622-0603A-01: Applying Learning Theories Unit 1 IP Dr. Trude Fawson American Intercontinental University June 17, 2006 Introduction How do we come to know what we know? What is knowledge? These questions are important not only for epistemologists or philosophers who study knowledge, but, as well for those interested in the sciences and education. Whether knowledge is seen as absolute, separate from the knower and corresponding to a knowable, external realityRead MoreApplying Learning Theory Of Life1507 Words   |  7 Pages Applying Learning Theory to Life Kristen Lewis PSY331: Psychology of Learning Nina Dulabaum 2 Feb 2015 Introduction: Learning can be defined as a lasting change in behavior of an entity that is down to the experience gained by the entity. The basic purpose of this paper is to apply the learning principles to by presenting and teaching the information to others in the workforce, to help people learn in the best way. We have to choose the best methods and best principles of learningRead MoreApplying Learning Theory to Life1015 Words   |  5 PagesEffective training begins with managers who are able to create an environment that engages different learning types (multiple Intelligences). While it is important, to remember that none can be applied across the panel to all learners in all situations; nevertheless some interconnections are apparent. Blends of pedagogical and embracing various learning panaches help meet the need of a larger portion of the employees. Fundamentally vital is the well-defined material assembled in right sequencesRead MoreApplying Adult Learning Theory Through Character Ana lysis Essay1448 Words   |  6 PagesAbstract This assignment explores the learning theories of Mezirow and Bandura through the character analysis of Malcolm X, portrayed by actor Denzel Washington from the film â€Å"Malcolm X†. The focus is to examine the theoretical perspective of adult learning theories transformative learning and that of social learning and how they impact character learning and development. Applying Adult Learning Theory through A character Analysis The film â€Å"Malcolm X,† produced by Worth, written and directedRead MoreAn Article On Theories Of Career Development1090 Words   |  5 PagesThis article is about theories of career development. By applying the theories to my career developments, evaluating the strength and weakness of those theories, then I took my parents’ working experience as examples, finally came up with my theory that should be used when making a vocational choice. Applying Theories to My Career Development There are two career development theories which is quite coinciding with my career development. The first one is the vocational choice theory of Holland (1997)Read MoreExploring Strategies for Teaching Essay1189 Words   |  5 Pagesthe teacher will have to have an idea about teaching and learning and apply it in his or her instruction. Conversely, instruction of information should be done in a manner that the student can explicate the information that the teacher is elucidating. This instruction will require objectives for the student and strategies to execute those objectives. The concept and skill that I would instruct would be counseling theories. Counseling theories are knowledge and skills that enhances the counselor toRead MoreMy Educational Journey As A Student990 Words   |  4 Pagesunderstanding the dynamics of the school environment, I had to navigate ways to attain that ambition. By applying various strategies, having determination, and being passionate about the students who were before me, I finally gathered two main philosophies that are extremely useful and relevant. By applying the beliefs of the Choice Theory, plus catering to students and their different learning styles, prove to be most effective in my classroom. My specific inspiration for teaching is to develop studentsRead MoreTeaching, Learning And Clinical Setting1563 Words   |  7 Pages Stephen Carp, PT, PhD, GCS Assignment Four Teaching and Learning in Clinical Setting Clinical education in physical therapy curriculum is very important to future practitioners for demonstrating the effective clinical teaching practices to ensure that the students learn skills, knowledge and behaviors which are essential for entry into practice. Clinical education can only be achieved by bridging academic education and clinical practice, introducing students to theRead MoreHow Teachers Having English Their Second Language1558 Words   |  7 Pagesperceives knowledge, accepts it and absorbs depends vary from person to person. Many studies have been conducted to understand the psychological aspects of this matter. Dimensions of learning style include many factors that can be studied for getting relevance into this matter. One factor is Sensing and intuitive learning that divides the students into two groups. Sensing students are good at understanding and accepting knowledge given directly to them but intuitive students get bored by pile of informationRead M oreIntegrating Wireless Laptop Into the Classroom Essay1306 Words   |  6 PagesThe theoretical framework for integrating wireless laptops involves the theory of social constructivism (SC). Dewey (1916/1997), Papert (1993/2000), Piaget (1932/1997), and Vygotsky (1978/1981) are the noted developers of the SC theory. The theory of SC underlies building collaborative relationships between teachers and their students. Dewey (1916/1997), SC suggests that teachers facilitate and observe their students. The focus must convey on understanding the vast amenities that technology

10 Amendments - First Changes to the Constitution

The first 10 Amendments to the U.S. Constitution are known as the Bill of Rights. Those 10 amendments  establish the most basic freedoms for Americans including the rights to worship how they want, speak how they want, and assembly and peaceably protest their government how they want. The amendments have also been subject to much interpretation since their adoption, particularly the right to carry a gun under the Second Amendment. A bill of rights is what the people are entitled to against every government on earth, general or particular, and what no just government should refuse, or rest on inference, said  Thomas Jefferson, the author of the Declaration of Independence and the third president of the United States. The first 10 amendments were ratified in 1791. History of the First 10 Amendments Before the American Revolution, the original colonies were united under Articles of Confederation, which did not address creation of a central government. In 1787, founders called a Constitutional Convention in Philadelphia to build a structure for a new government. The resulting Constitution did not address the rights of individuals, which became a source of contention during the documents ratification. The first 10 amendments were predated by the Magna Carta, signed in 1215 by  King John  to protect citizens against abuse of power by the King or Queen. Likewise, the authors, led by James Madison,  sought to limit the role of the central government. Virginias Declaration of Rights, drafted by George Mason immediately after independence in 1776, served as a model for other state bills of rights as well as the first 10 amendments to the Constitution. Once drafted, the Bill of Rights was quickly ratified by the states. It only took six months for nine states to say yes - two short of the total needed. In December 1791, Virginia was the 11th state to ratify the first 10 amendments, making them part of the Constitution. Two other amendments failed ratification. List of the First 10 Amendments Amendment 1: Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the government for a redress of grievances. What it means: The First Amendment is, to many Americans, the most sacred of the first 10 amendments because it protects them from persecution over their religious beliefs and government sanctions against the expression of opinions, even those that are unpopular. The First Amendment also prevents the government from interfering with journalists responsibility to serve as watchdogs. Amendment 2: A well regulated militia, being necessary to the security of a free state, the right of the people to keep and bear arms, shall not be infringed. What it means:  The Second Amendment is one of the most cherished, and divisive, clauses in the Constitution. Advocates for the right of American to carry guns believe the Second Amendment guarantees the right to bear arms. Those who argue the United States should do more to regulate guns point to the phrase well regulated. Gun-control opponents say the Second Amendment merely allows states to maintain militia organizations such as the National Guard. Amendment 3: No soldier shall, in time of peace be quartered in any house, without the consent of the owner, nor in time of war, but in a manner to be prescribed by law. What it means: This is one of the simplest and clearest amendments. It forbids the government from forcing private-property owners to house members of the military. Amendment 4: The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized. What it means: The Fourth Amendment protects the privacy of Americans by prohibiting the search and seizure of property without cause. Its reach is indescribably broad: every one of the millions of arrests made annually is a Fourth Amendment event. So too is every search of every person or private area by a public official, whether a police officer, schoolteacher, probation officer, airport security agent, or corner crossing guard, writes the Heritage Foundation. Amendment 5: No person shall be held to answer for a capital, or otherwise infamous crime, unless on a presentment or indictment of a grand jury, except in cases arising in the land or naval forces, or in the militia, when in actual service in time of war or public danger; nor shall any person be subject for the same offense to be twice put in jeopardy of life or limb; nor shall be compelled in any criminal case to be a witness against himself, nor be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation. What it means: The most common use of the Fifth Amendment is the right to avoid incriminating oneself by refusing to answer questions at a criminal trial. The amendment also guarantees Americans due process. Amendment 6: In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the state and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the assistance of counsel for his defense. What it means: While this amendment seems clear, the Constitution doesnt actually define what a speedy trial is. It does, however, guarantee those accused of crimes a decision on guilt or innocence made by their peers in a public setting. That is an important distinction. Criminal trials in the United States take place in full public view, not behind closed doors, so they are fair and impartial and subject to judgement and scrutiny by others. Amendment 7: In suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved, and no fact tried by a jury, shall be otherwise reexamined in any court of the United States, than according to the rules of the common law. What it means: Even if certain crimes rise to the level of being prosecuted at the federal level, and not the state or local, defendants are still guaranteed a trial before a jury of their peers. Amendment 8: Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted. What it means: This amendment protects those convicted of crimes from excessive jail time and capital punishment. Amendment 9: The enumeration in the Constitution, of certain rights, shall not be construed to deny or disparage others retained by the people. What it means: This provision was meant as a guarantee that Americans hold rights outside of just those specified in the first 10 amendments. Because it was impossible to enumerate all the rights of the people, a bill of rights might actually be construed to justify the government’s power to limit any liberties of the people that were not enumerated, states the Constitution Center. Thus the clarification that many other rights exist outside of the Bill of Rights.   Amendment 10: The powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people. What it means: States are guaranteed any power not delegated to the U.S. government. Another way of explaining it:  the federal  government holds only those powers delegated to it in the Constitution.

Animal Cruelty Intresting Introduction to Speech Free Essays

Cages upon cages are stacked in a plain room. Each contains a monkey that will live there the rest of its life which could be years or days away. From isolation and insanity they pace round and round in circles. We will write a custom essay sample on Animal Cruelty Intresting Introduction to Speech or any similar topic only for you Order Now When they are taken out different tests are performed on them. Among these brutal experiments, is being shoved in tubes to be bled, having tubes shoved down their throats, and being painfully injected several times. These animals will never be free. Human clinical and epidemiological studies, cadavers, and computer simulators are faster, more reliable, less expensive, and more humane than animal tests. Ingenious scientists have developed a model â€Å"microbrain† from human brain cells to study tumors, as well as artificial skin and bone marrow. We can now test for skin irritancy on cells in a test tube, produce vaccines from human cell cultures, and perform pregnancy tests using blood samples instead of killing rabbits. Says Gordon Baxter, cofounder of Pharmagene Laboratories, a drug research company that uses only human tissues and computers to develop and test drugs, â€Å"If you have information on human genes, what’s the point of going back to animals? â€Å" Every year around 1 million animals are subjected to potentially dangerous drugs that may cause severe pain both physically and psychologically to the animal. Can you not see the irony in this? Every year around 1 million animals are subjected to potentially dangerous drugs that may cause severe pain both physically and psychologically to the animal. Visualize the pumping of chemicals into a rats’ stomach, hacking muscle tissue from dogs’, and putting baby monkeys in isolation chambers far from their mothers. Is there a purpose for this? When picking out your mascara or eyeliner, do you even stop to see what kind of makeup you are using? You could be supporting animal cruelty and not even know it. Today many makeup products, such as mascara, are being tested on animals. Helpless and defenseless animals are being performed on for different types of experiments all around the world. Animal testing is animal cruelty. It’s something that goes unnoticed every day because of the benefits for people that are a result of it. You are most likely connected with it every day; it’s the new cosmetic line that you just bought, your shampoo you use daily, or maybe even a vaccine. It’s something that’s overshadowed by advancements in the medical field. How to cite Animal Cruelty Intresting Introduction to Speech, Papers

Overall Condition Of A Geographical Location-Myassignmenthelp.Com

Question: Discuss About The Overall Condition Of A Geographical Location? Answer: Introduction The term economy refers to the overall condition of a geographical location, in terms of the demand and supply forces and their mutual interactions to reach an equilibrium, which is measured in monetary terms. The dynamic stability of ay economy, though primarily determined by these two forces, is also affected by some other exogenous as well as endogenous economic phenomena, the fluctuation of those cause significant turmoil in the economic scenario of a country, giving rise to abnormal situations. One such condition of abnormality is known as recession, which means an overall stagnancy and slowdown in the economic activities, thereby resulting in the decline of economic growth of a country, resulting in low GDP and growth rates for the time being (Jacobs 2016). The global economic scenario, consisting of many small and big players, has been reined by a few significantly influential and powerful economies, which over the years have grown even more prospering, one of the most powerfu l ones being that of the United States of America. However, even this economy has not had a smooth path towards progress always and experienced a few fluctuations of massive intensity from time to time, one such event being the Great Recession of 2008-2009. The essay discussed this event elaborately and tries to analyze the main cause which caused the Great Recession in the USA, taking into account the tremendous implications the event had (mostly negative) on the economy of the country specifically and on the international economic scene cumulatively (Castells, Caraa and Cardoso 2012). Recession Recession, in the broad sense of the term in economics, refers to the stagnancy and a slowdown in general of an economy, with the overall economic activities (productive, industrial as well as trading) reducing significantly. Much of the recessionary situations arise due to the overall loss in the confidence upon the economy, from both the consumer side and the producer and investor side. With the loss of the overall confidence of the residents from the economy and its future prospects, the supply levels and productivity declines, which in its turn, leads to lowering of wages and creation of jobs, thereby increasing the unemployment burden (Stock and Watson 2012). The direct impact of this recessionary pressure falls on the standard of living of the residents of the economy as a whole. The nature of recession being cyclical by default, the phenomenon often creates a viscous cycle of burden for the economy, thereby taking the concerned economy on a spiral path of sufferings and povert y burden. The impacts of a recession can be seen on the declining growth rates of GDP and GDP per capita of the country at that point of time (Auerbach and Gorodnichenko 2012). Causes of recession Among the various factors, which give rise to a recessionary situation in an economy, there are several key factors, which mostly commonly leads to recession in any economy. Few such factors are explained below: a) Stock market turmoil- Stock market being the backbone of any developed and developing economy in the contemporary period, a sudden crash in the share values of the companies and loss of investors confidence on the profitability of those companies can lead to an overall slowdown in the economic activities of the country as a whole. This may lead to a recessionary situation (Farmer 2012). b) Interest rate irregularities- Economic activities of a country are highly dependent on the monetary variables like the rate of interest prevailing in the economy. Therefore, irregularities in this indicator may result in disinvestment in the economy, thereby reducing the economic activities and giving rise to recession (Bodie 2013). c) Irregularities in residential markets- With residential investments becoming one of the significant components of the GDP of the countries, sudden decrease in the price levels of the housing assets of a country can decrease the growth potential of the economy significantly, taking the economy on the path of a recession. The fall in prices, depending upon the longevity and magnitude of the price fall, can be short term or long term. This type of recession is more common and acute in those significantly developed countries, which experience a high population pressure (Bosworth 2012). Apart from the above-mentioned factors, recession may also be caused due to other factors like creation of wealth and asset bubbles, credit market crunches or natural and manmade calamities including wars, which causes significant hurdles on the path of economic progress of the country. USA and the Great Recession of 2007-2008 The United States of America has been and is continuing to be the biggest influencing economy in the global economic scenario. Being one of the largest contributors in almost all the global economic organizations and governing bodies, the country alone has the capacity to influence the overall economy of the world with its strategies and international policies. The economy of the USA, however, in spite of being one of the most successful one in the global economic history, had faced several notable fluctuations in its growth over time. The two most significant ones of these events, having tremendously adverse and long term effects on the economy, were the Great Depression of the 1930s and the Great Recession of the 2007-2009, the latter being the subject for discussion in this essay (Ball 2014). The Great Recession in the United States of America, as per the data provided by the National Bureau of Economic Research, had already started in the country by the last quarter of 2007, with the dynamics of the economy slowly changing and taking a downturn. With the advent and set in of the recession, the economic growth of the country stagnated and after sometime the country stated experiencing negative statistics in its growth indicators. The GDP of the USA was reduced by almost 51 per cent. It was the first of its kind after the recovery of the economy from the Great Depression of the 1930s. Not only the GDP growth rates, the country also experienced rude shocks in terms of the employment scenarios and the overall reduction in the aggregate demand and supply activities of the economy (Cynamon, Fazzari and Setterfield 2013). Figure 1: Consumption Spending (Personal) in the USA (Source: Bls.gov, 2017) The aggregate consumption levels of the households, which otherwise maintained a consistently rising trend in the country, as can be seen from the above figure, experienced a substantial decline from the last quarter of 2007, with the trend going even low till the third quarter of 2009. The statistics only started showing improvements from the beginning of 2010 (Jenkins et al. 2012). Much of this fall, taken together consumption was a byproduct of the huge increase in the unemployment scenario, which can be shown with the help of the following graph: Figure 2: Ratio of Employment and Population of the USA (Source: Bls.gov, 2017) It is very much evident from the above figure that the country, otherwise experiencing a more or less higher than average employment population ratio, saw a steep decline in the ratio during the period of 2007 to 2009, which persisted till 2010. Post 2010, though the ratio started improving, it could not reach to its persisting levels, before the occurrence of the Great Recession. This in its turn led to the fall in aggregate demand of the country as a whole, thereby adversely affecting the supply scenario and slowing down the overall productivity of the country. The effects of the Great Recession took a significantly long span to wither out completely (Danziger, Chavez and Cumberworth 2012). Great Recession: Primary Cause Over the years, many theories and debates have occurred among the economists all over the globe regarding the causal factors of the Great Recession in the USA, which had its implications not only on the country itself, but also on the global economy as a whole. However, without any debate one factor identified by almost all the economists across the world, as the primary reason for the massive event. This factor was the more than normal exuberance in the housing investment of the country, which was to the extent of irrationality and which created a temporary bubble only to burst it after sometime. This led to the initiation of the Great Recession (Jagannathan, Kapoor and Schaumburg 2013). What was the housing bubble? The economy of the United States of America, post the Great Depression, which occurred in the 1930s, recovered well and eventually started progressing immensely, slowly emerging as one of the most powerful economies in the world. The country experienced a significant increase in the population growth, which along with the industrial and overall productivity growth in the country, gave a push to the housing sector of the country. The residential sector, with the growing income of the residents of the country, also emerged as one of the most prospective sector for investing money as the housing industry showed immense long term prospects. With the rapidly growing population of the country and the increase in the demand for housing facilities, the housing industry gained significant attention of the investors as well as the households of the country (Mian and Sufi 2015). The huge investment in the housing sector was even more facilitated by the overall low interest rates prevailing in the country at that point of time, which was to some extent deliberately done to facilitate investment in different sectors of the country. There was already a working notion and speculation among the investors as well as the household sector, that the price of the housing assets in the country would go on increasing. This, coupled with the prevalence of considerably lower rate of interest in the economy, led to borrowing of funds by the households as well as commercial investors to invest in the housing sector. Housing came as an alternative way of asset building to the households of the country and many commercial enterprises started investing on residential assets, which they bought only to sell at a higher price after some time. The lack of foresight of the governing authorities and proper restrictive regulations added impetus to this phenomenon as many commercial banks and financial and insurance companies emerged in the scenario, which started providing loans with mortgage facilities to the interested people, to invest in this sector. Under this facilities, the borrowers could buy houses by borrowing money from these enterprises and making a very small initial down payment, whereby much of the risk were borne by the companies. The interest only type of loans encouraged the households as well as the commercial investors to this sector. This in turn, created a huge bubble in the residential asset market with both the housing prices as well as the residential investments going up at an abnormally fast pace (Charles, Hurst and Notowidigdo 2016). Bursting of bubble Defying all the positive speculations of the investors, regarding the housing market and its long term prosperity in the economy of the USA, the bubble created in the housing market did burst, much to the shock of the speculators of the country. This led to a sharp decline in the housing prices in the economy, at an abnormally rapid pace, which in its turn, led to an immense increase in the loss of confidence of the common people as well the investors in the country. This in its turn, led to a massive foreclosure in the market, on part of the clientele of the housing market. The worst hit of this foreclosure by the demand side participants, were the commercial banks and the insurance providers, as they took the responsibility of bearing the lions share of the risk burden. Many commercial investing enterprises, including the Lehman Brothers, one of the largest investment bankers in the country, filed bankruptcy during that time and the housing market saw a bailing out of an astonishing $700 billion, marking the initiation of what today is known as the Great Recession of the USA. There was a loss of a whopping 16 trillion USD by the citizens and the stock market of the country crashed like never before. This had its effects on the job market as well as nearly 7.5 million people lost their jobs, thereby reducing the aggregate demand, supply and overall economic activities of the USA to a major level. It took a lot of time and huge reforms on part of the government of the country to take the country out of this situation, towards a sustainable path of economic growth (Rickman and Guettabi 2015). Conclusion The Great Recession of 2007-2008, had huge effects on the economy of the USA and the global economic scene as a whole as many other countries were directly and indirectly affected by the phenomenon. The economy of the USA experienced a slowdown like never before, with all the economic indicators performing terribly and the country stagnating and slowly moving into the spiral of viscous sufferings. The bursting of the housing bubble, being the main cause of this recession, decreased the GDP, GDP growth rates, employment generation and the overall productivity of the economy to an astonishing extent. The financial and the stock market scenarios were threatening and it took a significantly long time for the monetary and governing authorities of the country, to bring the economy back to a steady state equilibrium condition, though many of the damages created by the Great Recession, mostly those on the commercial investment enterprises, were permanent in nature. References Auerbach, A.J. and Gorodnichenko, Y., 2012. Fiscal multipliers in recession and expansion. InFiscal Policy after the Financial crisis(pp. 63-98). University of Chicago press. Ball, L.M., 2014.Long-term damage from the Great Recession in OECD countries(No. w20185). National Bureau of Economic Research. Bls.gov (2017). [online] Available at: https://www.bls.gov/web/empsit/cps_charts.pdf [Accessed 7 Sep. 2017]. 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