The Social Impact of Economic Recession and Financial Crisis

I am studying for a B.A. in Sociology and I have to say I have garnered quite a passion for it. A sociologist can study every facet of human existance in one focused discipline. Most importantly, we currently have an extraordinary chain of events going on right this moment that will determine what our future will be in the next 10, 20 years.

Most of this talk has centered on the "now." How does one pay their bills? How do we feed and clothe our children? How will we receive higher education? What does this do to our ability to maintain any sort of headway in science and technology? No doubt economic problems hinder the ability of any country to improve and progress its own state of being.

However, there is another element that needs to be addressed, one that we often fail to see as connected to the economics and finances of our country, and that is the impact it has on culture and society. To see what I am getting at, consider this quote on Wikipedia's article on the Early 1990s recession:

Like all recessions, the one of the late 1980s and early 1990s had a profound impact on society. Rates of alcoholism and drug abuse increased, as did rates of depression.

What concerns me is not the numbers. It happens. Its the natural result of any flawed mixed economy whose purpose is to support and preserve state, but not necessarily society. What does concern me is the incredible hardship people will be experiencing inside their homes, in their schools, with family, friends, and strangers alike. That is what is worrisome. If 2008 was just the beginning, then what we will see in 2009 will surely be enough to force us on our knees and to tears. Families will certainly be wrecked by economic and financial burdens, burdens that will also considerably warp any person's personal view of what a family should be. Children may be unfairly punished with schools of declining quality, and, as the article pointed out, alcohol and drug abuse will certainly hit a high, not to mention familial violence. Its also no surprise that teenage pregnancy rates hit a high in 1991, during that early '90s recession. Considering the bad "quality" of the events of 2008, we may see the whole gamut of social problems emerge. Every day, a couple of hundred future criminals and victims of crime are being generated.

What are your thoughts? I want this thread to be a compilation of all our thoughts on the social impact of this global calamity and what you expect for yourselves and your own families as 2009 dawns on us.

Well so far New Zealand has been insulated from the worst of the credit crunch . Although if this doesn't prove to be the case in the long term then people are in for a rude shock . People are going to get to know there neighbours a lot better then they have in the past . Vegetable gardens have already made a come back I expect such trends to continue . I might have something more enlightened to say after I get over the cold I have caught .

Originally posted by sweatmonicaIdo

What are your thoughts?

I think alot of people are going to being crying out to GOD. Some will cry for mercy, some will cry for forgivness, and others will cry out for vengence.

[edit on 13-10-2008 by In nothing we trust]

I am already seeing an increase in petty crime. I've in the last few months observed people stealing gas from cars. granted they were SUVs but still. I've had my car broken into, I've seen an alarming rate of burgleries in the neighborhood. more and more people hanging out at bars by themselves during the daytime just getting drunk because they have nothing else to do.

A lot of crime will be going up. more and more disregard for others on the road. more road rage. more accidents, more depression.

people keeping to themselves more.

I've even seen people cause more accidents from locking their keys in their cars to leaving their irons on so to speak because they are so emotionally distracted and stressed.

It's going to be dark, and we need to rely on our friends and families to get us through and to keep us honest people.

When times get tough I've noticed less honesty in people. from honesty with themselves to little white lies.

people are on edge, and socially bad things happen when humanity is on edge.

but it will also teach us to live a little more honest with our selves. like do I really need this new trendy pair of jeans cause it's in style for the next 4 weeks and then I'll have to buy a new pair that will be fashionable or are the jeans that are in perfect condition but not trendy good enough for me. It might make our civilization look deeper within it's self for once.

Originally posted by BASSPLYR
I am already seeing an increase in petty crime. I've in the last few months observed people stealing gas from cars. granted they were SUVs but still. I've had my car broken into, I've seen an alarming rate of burgleries in the neighborhood. more and more people hanging out at bars by themselves during the daytime just getting drunk because they have nothing else to do.

This is what fears me the most. Crime may indeed continue to go up and with more crime comes a higher demand for law enforcement services. But any recession will strap local governments from releasing funds that will make police departments far more effective. What's more the fact so many young people may become involved in criminal activity bothers me.

A lot of crime will be going up. more and more disregard for others on the road. more road rage. more accidents, more depression.

I can only hope gas prices will keep some people off the road.

people keeping to themselves more.

I've even seen people cause more accidents from locking their keys in their cars to leaving their irons on so to speak because they are so emotionally distracted and stressed.

That's sad to hear.

but it will also teach us to live a little more honest with our selves. like do I really need this new trendy pair of jeans cause it's in style for the next 4 weeks and then I'll have to buy a new pair that will be fashionable or are the jeans that are in perfect condition but not trendy good enough for me. It might make our civilization look deeper within it's self for once.

Unfortunately, when we live in a society of constant, persistent judgment, it becomes impossible to be honest with ourselves because we never want to be negatively judged. We need to be humble about things and understand that our wants and our opinions, at the end of the day, don't mean jack. Only a recession does.

On the other hand we may well see an increase in family stability. With prices rising and money harder to get we can no longer send the kids to the mall with the credit card.
What we may see is a stronger bond in many families, churches and even communities. The TV may be turned off. No more internet. Can't spend the fuel to go out. What is left? Spend time with the family and neighborhood friends. Card parties may be the next trend. Family gardens will increase without doubt.
Yes in many urban areas we will see increased crime, but what we will see is a strengthening of the mores that we keep. Our true character will come out more, whether good or bad. We will see an increase in heroic acts as well as crime.
Yes without a doubt we will be affected for many years due to the pinch that is coming. Only history will be able to tell the whole story.

respectfully

reluctantpawn

Originally posted by reluctantpawn
On the other hand we may well see an increase in family stability. With prices rising and money harder to get we can no longer send the kids to the mall with the credit card.
What we may see is a stronger bond in many families, churches and even communities. The TV may be turned off. No more internet. Can't spend the fuel to go out. What is left? Spend time with the family and neighborhood friends. Card parties may be the next trend. Family gardens will increase without doubt.
Yes in many urban areas we will see increased crime, but what we will see is a strengthening of the mores that we keep. Our true character will come out more, whether good or bad. We will see an increase in heroic acts as well as crime.
Yes without a doubt we will be affected for many years due to the pinch that is coming. Only history will be able to tell the whole story.

respectfully

reluctantpawn

You hit it on the head. Such a crisis will affect different areas in different ways and different families in different ways. Some people will respond properly and find ways to take advantage of the crappiness in order to create more stability, camraderie, and pleasantry at home. This will be far more difficult to do in urban areas.

However, I see openness as being a bit hard to come by. I think some people will deliberately adopt isolationist-like mannerisms in order to shield themselves from the potential of crime and instability.

Somehow, it may be a good thing.

Originally posted by In nothing we trust

Originally posted by sweatmonicaIdo

What are your thoughts?

I think alot of people are going to being crying out to GOD. Some will cry for mercy, some will cry for forgivness, and others will cry out for vengence.

[edit on 13-10-2008 by In nothing we trust]

There will also probably be some praying: thy will be done.

All a matter of perspective, I suppose.