This paper is about identifying the trends in British economic policy that are apparent because of the credit crunch in the US and UK economies since the winter of 2007. The paper explains how the trends have been identified with reference to the credit crunch as well as what…
r administration in the UK adopted what can be called “supply side” economics, the cornerstone of which was reducing the tax rates for corporates with a view to encouraging them to produce more.
The contention of this author is that the credit crunch of 2008 represents stresses that have been building up ever since the 1980’s and these are the result of the brand of economics and policies followed in the US and UK from that time onwards. As I point out in subsequent sections, the changes in the banking sector because of macro and micro factors led to the financial system being unstable. The fact that there were several crises, notably the Northern Rock, the Savings and Loans scandal along with the periodic instability that led to the Asian financial crisis of 1997 did not make it easy for the regulators as well.
The credit crunch can be blamed on a combination of factors that include bad regulation, excessive speculation and a tendency towards risk taking that went beyond the acceptable levels. This tendencies were building up throughout the period starting in the 1980’s and reached their apogee in 2007 when the bubble burst with the fall in the housing market and consequent contraction of the economy. What exacerbated the situation was the spike in Oil prices in 2008 which meant that people had lesser money to spare for repaying their mortgages as the oil price increase pinched the wallets of the consumers (Rubin, 2009).
Atkinson and Elliott point out: The modern era has been characterized by slower growth in average real incomes, higher levels of debt to maintain living standards, greater job insecurity and financial crises that have become more frequent and more far reaching. The only class that has benefited unambiguously from this new world order is that of the gods of greed (Elliot and Atkinson, 2008). To explain this point further, what has essentially happened is that there was excessive speculation that came from availability of easy credit and ...
Cite this document
(“Governance and policy Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Retrieved from https://studentshare.net/miscellaneous/387170-governance-and-policy
(Governance and Policy Essay Example | Topics and Well Written Essays - 1500 Words)
“Governance and Policy Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.net/miscellaneous/387170-governance-and-policy.
Policy Making and Contemporary Governance in the United Kingdom. Governance is referred to an exercise of authority and a system of management or government which is an issue of concern in all organizations including large corporations to small governmental agencies ranging from profit to non-profit organizations.
Each of these is useful and necessary because they shape the direction of the organization towards goals. With the right mindset, the boards focus on purpose, resources, and effectiveness through self-assessments, conducting and acting. It requires rigorous introspection and the pitfall of implementation is the lack of knowledge about what to asses and how to apply results.
In the modern society, environmental problems are at the center stage of the social issues that affect societal functioning. Notably, their negative implications are pervasive and compromise the wellbeing of both the current and future populations. This has further been compounded by the cross boundary nature of these implications.
For administrators, both in the private and public sector, governance involves a delicate balance between the needs and the resources with efficient governance based on how well such balance is sought and maintained. The conceptualizations of governance are based on numerous interpretations and applications.
This has further been compounded by the cross boundary nature of these implications. In this respect, both the communities that reside in the affected area and those that do not get affected with the respective
The importance and the complex nature of current foreign policy in the world have been occasioned by the increased global interdependence and the elimination of traditional barriers to globalisation. As a result, it has become more
Managers thus are forced to lobby for resources in order to compete effectively. Individuals also require lobbying for support especially if the chances available (for example, for promotion) are few and the employees who are being considered are
green revolution and disintegration of agricultural policies, which introduced other challenges and opportunities in Indian agriculture, there was a need to come up with a formal statement that gives direction to the broader agriculture (both of fertile and dry lands) and those