Since August 2007, world economy has had to face the turmoil caused by the financial crisis. The global economy entered a major turning point when it significantly slowed down in 2008. In July 2008, the IMF still prognosticated 3.9% global growth for 2009 and 1.4% in developed countries. It now expects more than 3% growth of developed countries, where it should not exceed 0.5%. The European area was hit by "major shocks" with soaring oil price and inflation that had cut the purchasing power, in addition to "extraordinary financial stress". The consequence was the beginning of an economic recession.
[...] The second means was to ensure the growth of income in fiscal policy. This is applicable in the case of a profound crisis, when households will save and politics have no influence. The best solution therefore is the socialization of investment which is the investment of the state to restore confidence. A part of the growth comes from externalities. We therefore risk adopting the behavior of stowaways. For example, businesses may choose not to invest at a time when a growth is recorded, and instead follow the movement only if the growth lasts. [...]
[...] The various imbalances in close relationship with growth Since the mid-80s, developed countries have succeeded in containing inflation. The more common situation is disinflation but inflationary pressures, have, at the moment fought successfully for, a breakthrough in many countries where growth was accelerating. In recent years, an effort to reduce public deficits has been undertaken but it's still above of GDP. The causes of this deficit are firstly the temporary slowing of growth that limits the reduction of public expenditure and amplifies the recession, the structural progression of social expenditures related to health, pensions, unemployment and the reduction of working time. [...]
[...] The unbalanced growth strategy supported by Hirschman, Myrdal, Perroux and Destanne de Bernis promotes the accelerated development of an industry or a branch. Proponents of this strategy believe that the imbalance is a dynamic factor of growth and development. Consequently, the unbalanced growth strategy calls for maintaining certain imbalances that allow a sequence of dynamic complementarities. The economic and social imbalances occur in developed countries during periods of growth. The situation is paradoxical. Overall, rich countries produce more and more wealth and at the same time generate insecurity, poverty and exclusion. [...]
[...] These social and economic imbalances occur in developed countries during the growing period. Rich countries produce more and more wealth and at the same time generate insecurity, poverty and exclusion. These are structural imbalances. Despite the government's willingness to ensure growth and increase development. The question that arises is whether all economic policies have been implemented effectively and to what extent the government can reconcile growth and equilibrium in the market. We discussed in the first part, the action of economic policies to support growth and the limits of growth relative to economic conditions. [...]
[...] Conclusion Even if everyone agrees that the period of the Thirty Glorious Years was successful in developed countries, thanks to the exceptional economic growth and sustenance it generated, there are indications that it has experienced failures and imbalances around 1973 and 1974 that influenced the subsequent decades. After the climax of decades of prosperity, there is usually a gradual deterioration of economic growth and modes of life. Many people were excluded from the growth and prosperity of the war boom in industrialized countries. [...]
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