Economic crises can be looked at broadly to involve a situation that distorts the financial stability of an institution which results in a sudden loss of significant financial strength of the institution. Lamido (2009) says this may include a loss in the value of assets. In recent human society, the economic crunch has had varying effects on individuals, institutions, and society. The choice to write on the topic Economic Crisis, (Social Sciences/ Psychology: Effects on the Individual or Society) is justified by the need to understand and handle the effects of economic crises on society generally, and focally on the individual. It is worth saying that the subject of economic crises is one that has adequately received attention through different approaches such as Capitalism and Marxists (Yahaya, 2010). This, very likely, is so because an economic crisis has numerous shakedown effects on a society or individuals whenever and wherever it occurs. Thus, research materials are vast for the topic.
The following is the thesis statement for the topic: A great deal of research is necessary to prompt relevant arguments, suggestions, and practices to reduce the awful impacts of economic crises on society in general, and the individual in particular. This thesis statement is selected to correlate the need for intense research on the topic in order to suggest solutions to the effects of economic crises. This is further made necessary for the reason that economic crises are nearly always followed by affected individuals having psychological effects and complicated mental health (Bushman, 2010). Economic crises are associated with unemployment problems and could discourage couples from starting a family, thus leaving the hearts of the couple beyond breeds and resentments. The NIH documented that persons under obligations to afford basic expenses tend to put off primary health concerns. This could happen, especially, when the individuals no longer have health insurance because they are unemployed. And because they become neglectful of minor health problems, their conditions could exacerbate into increased stress. There is also an increased risk for suicide associated with financial pressure, depression, health deterioration, and aggravated anxiety. The affected individual may commit suicide because of psychological crises arising from economic crises! Individuals affected by economic crises may recess from social society and become evil in their thoughts. Subsequently, they may transcend the evil to society in such ways as robbery and attacking relatives harmfully. The concern remains on how individuals can be helped to overcome the effects of the economic crisis. Very important suggestions on how to help the individual to overcome psychological trauma are discussed by Finger (2007). In addition, it is important that the affected individual remain as distressful as possible. Thus to provide relevant answers to the menace of economic crises, the following are selected:
Topic: Economic Crisis, (Social Sciences/ Psychology: Effects on the Individual or Society).
Thesis statement: A great deal of research is necessary to prompt relevant arguments, suggestions, and practices to reduce the awful impacts of economic crises on society in general, and the individual in particular.
The three points that may be explained are:
- How individuals can contribute to the prevention of economic crises.
- Among men and women, which is mostly affected by economic crises? And,
- Are there any positive benefits the individual gains from economic crises?
The following word needs definition: Socialist.
I mapped out keywords on the subject and concentrated the collection of relevant information on them. After I gathered the relevant information, I questioned how much practicable the information is. I then build the write-up on facts. If I disagreed with someone else’s point of view, I present reasons. Otherwise, I present the point. And then, I draw out a thesis from the core of the message.
The realities of economic crises on society and the individual are hard. The paper has looked at a few of such realities or effects as an insight to further research.
References
Bushman, Q. E. (2010). Effect of Financial Crises on the United States. California: Lamp books.
Finger, A. A. (2007). An Introduction to Psychology. London: Edward Arnold.
Lamido, F. A. (2009). The Unseen Effects of Economic Crises. Nigeria: Aboki Publishers.
Samuel, N. N. (2009). Economic Crises and Its Effects on the GDP. London: Equinox Publishers.
Yahaya, Y. M. (2010). The Effect of Economic Crises on Society. Nigeria: University Press.