A financial crisis occurs when financial markets suffer sudden and severe losses or when investors lose confidence in the financial sector or the economy as a whole. Banks are at the heart of a financial crisis, and it often begins when a bank experiences a large number of loan defaults. The economy during a financial […]
Crisis counselors help people dealing with trauma or despair by assessing and evaluating the situation, proposing solutions, providing ongoing support, and teaching stress reduction techniques. They work with a wide range of individuals and age groups, and may be required to work flexible schedules. Employers look for a combination of academic performance, work experience, and […]
The global financial crisis began in 2007 with the collapse of the US financial system and quickly spread worldwide due to interconnected markets. The causes are still debated, but the effects include declines in production, trade, and capital, rising unemployment, poverty, and hunger rates, and slow recovery and growth. The crisis remains a vulnerability for […]
Crisis theory in Marxian economics examines the causes of economic crises, including the tendency for boom and bust cycles, and the role of falling profit rates in triggering crises. Some economists believe capitalism is unsustainable due to this theory, and interventions such as nationalization may be necessary. Understanding competing economic theories is important for analyzing […]
An identity crisis is a search for answers about one’s being and identity, often experienced during adolescence but can occur at any time. It involves self-exploration and evaluation of choices, leading to the attainment of identity. Some cultures encourage and facilitate this process, while others may experience a crisis as they respond to major changes. […]
A financial crisis is a sudden change in financial situation, affecting individuals, companies, and countries. A recession is a period of financial hardship, shown on a graph as a downturn. A crisis can lead to a recession or depression. It can affect any scale, from personal finances to the global economy. A financial crisis is […]
