economic crises

economic crises

periodic, or more irregularly occurring, phases in the working of the capitalist economy, in which economic accumulation is checked or halted, either as part of a regular cycle of alternating booms and depressions (see TRADE CYCLE), or as the outcome of exceptional circumstances, such as sudden restrictions on the supply of a vital commodity such as oil. In one view economic crises are functional for the capitalist system as a whole in that they promote a reshaping of production, restoring profitability and renewed accumulation. In MARXIAN ECONOMICS, there are suggestions that crises and depressions will tend to become more severe (see CRISES OF CAPITALISM), but no entirely convincing arguments have been given why this should be so. See also LONG-WAVE THEORY.
References in periodicals archive ?
The study also found that Cyprus, a small nation, does not deviate from larger societies in help-seeking behaviour in the form of people contacting a national helpline when exposed to economic crises. Small nations, it said, have a relatively large and expensive public sector compared to the population thus during economic crises, access to and the quality of services offered by the public sector may be adversely affected.
Lending - providing loans to member countries facing some degree of economic crises.
Owing to economic crises, young generation, for the fulfilment of their needs, adopt different negative ways, thus leading to increase in crime rate.
Shah Mehmood stressed on joint efforts to bring the country out of economic crises and urged the prime minister to assign targets to the ambassadors and ensured that they will not disappoint the premier.
Earlier, Hamza Shehbaz in a media talk had targeted the PTI government for economic crises in Pakistan saying that country has only few days of foreign exchange reserves.
"Household Debt and Economic Crises: Causes, Consequences and Remedies" by Heikki Hiilamo (Professor of Social Policy, University of Helsinki, Finland) examines the causes, consequences and potential public policies related to debt from a social policy perspective, in which over-indebtedness is understood as a social risk.
'We don't have money to run the government,' Prime Minister Imran Khan said, adding that no government in the past had ever inherited such a major economic crises.'
Nasser bin Rashid al- Maawali, Director of the Center said that the panel discussion will discuss the modern methods of economic crises management and the precautionary measures to forecast financial and economic crises.
Spurred by the collapse of Lehman Brothers in 2008, the editor initiated a research project to explore how economic crises affect paradigmatic change.
This collection of essays reflects on the nature of economic crises that have defined the "great recession," as well as their political consequences or lack thereof.
The southern and the eastern nations of the world have suffered from constant economic crises, poverty, unfair distribution of income and unemployment throughout the 20th century.
Some governments may elect to restrict growth in health care expenditure following economic crises, as is now happening in the United Kingdom (Appleby 2011), while others, especially those in receipt of external loans, may be required to cut it (Abel-Smith 1986).

Full browser ?