The Financial Crisis and Culture Change Analytical Essay by Nicky

The Financial Crisis and Culture Change
Discusses that the recent economic recession has impacted the behavior of many ordinary families thus leading to a cultural change.
# 128932 | 1,435 words | 7 sources | APA | 2010 | US
Published on Aug 17, 2010 in Economics (Macro) , Economics (Micro) , Economics (National) , Sociology (General)


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Description:

This paper explains that most experts agree that the current financial situation is historic in its enormity and destruction. Because the recession has affected so many people, the author points out, it has become a superlative impetus for culture change. The paper underscores that, as a respond to the recession, the American people have changed their attitude toward politics, spending and the importance of finances in their daily lives.

Table of Contents:
Introduction
A Brief History of the Issue and Potential Causes
The Financial Crisis and Cultural Change
Potential Solutions and Conclusion

From the Paper:

"While the political shift from Republicans to Democrats is certainly the most visible sign of a cultural change due to the struggling economy, it is certainly not only way in which culture is changing to accommodate the recession. Instead, family values and behaviors are beginning to shift, along with society's own values. Before the current recession, credit was the norm, and the policy of buy now pay later was most shoppers' creed. But just like credit lead to the Great Depression, credit also lead to the current financial crisis, and American families are beginning to change their attitudes about credit cards and financing."

Sample of Sources Used:

  • Barbaro, Micahel and Uchitelle, Louis. (2008, January 14). Americans Cut Back Sharply On Spending. The New York Times. Retrieved from, http://www.nytimes.com/2008/01/14/business/14spend.html
  • Banking Crisis Timeline. (2008, October 30). The Guardian. Retrieved November 17, 2008, from http://www.guardian.co.uk/business/2008/oct/08/creditcrunch.marketturmoil
  • BBC. (2008, September 26). Q&A: Financial crisis and you. Retrieved November 17, 2008, from http://news.bbc.co.uk/2/hi/business/7625419.stm
  • It's an Ill Wind. (2008, October 9). The Economist. Retrieved November 17, 2008, from http://www.economist.com/world/unitedstates/displayStory.cfm?story_id=12380943
  • Leigh, Andrew. (2008, November 3). Credit Card Issuers Struggling. Retrieved November 17, 2008, from http://www.inc.com/news/articles/2008/11/credit-cards.html

Cite this Analytical Essay:

APA Format

The Financial Crisis and Culture Change (2010, August 17) Retrieved February 28, 2024, from https://www.academon.com/analytical-essay/the-financial-crisis-and-culture-change-128932/

MLA Format

"The Financial Crisis and Culture Change" 17 August 2010. Web. 28 February. 2024. <https://www.academon.com/analytical-essay/the-financial-crisis-and-culture-change-128932/>

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