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Essay / Research Paper Abstract
This 12 page paper considers the economic position of the UK in 2012 and the entrance into the double dip recession and assesses whether or not the government polices may have been responsible or contributed to the second recession. The paper examines the polices put into place, the international influences and examines the economic impact of the policies and the way polices were prioritized. The policies are also considered in the context of other countries, with particular attention to the US. The bibliography cites 17 sources.
Page Count:
12 pages (~225 words per page)
File: TS65_TEUKrecov12.doc
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Unformatted sample text from the term paper:
recession, with the first quarter of 2012 showing a 0.2% decline in the GDP which followed a 0.3% contraction in the last quarter of 2011 (Kollewe, 2012). This is the
first double dip recession since the 1970s and as such one may wonder how and why this has occurred and to what extend this is the result of domestic policy
failures, or the result of international influences. The 1970s saw external influences with the shock to oil supplies having a knock on effect, with a complex set of influences and
some policy mistakes, such as treating the oil crisis as a demand shock rather than a supply shock leading to ongoing economic problems (Carlin and Soskice, 2005, p377). The
responses to the latest recession has been different to the last double dip, with a number of fiscal and monetary policies being put into place to manage the economy. These
policies and measures have included monetary easing in order to increase the liquidity of the markets as well as severe austerity targeting government spending measures in order to address the
budget deficit. However, the results appear to indicate that the attempts to aid the recovery of the economy have not been successful, evidenced by the double dip recession. The questions
that remains is whether or not the current policies are correct and dealing with the issues, especially when compared to other countries that have not entered a second recession.
Interestingly, the Prime Minister is blaming the slow rate of recovery, including the return to recession on factors outside of the UK, stating it is the result of the
Euro crisis (Wintour, 2012). In an interview David Cameron is blaming the Euorzone and stating that he does not believe that the euro crisis is even half over. This is
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