The World Of Supply And Demand Essay

958 Words Jul 6th, 2016 4 Pages
In a systemic world of supply and demand, comes also the creation of classes that face vital differences. The United States of America being a capitalist nation has always functioned to maintain value to its currency, by engaging the needs of its economy. Being a millennial, while also being an American, I have witnessed this great nation overcome many economic tragedies that many feared we would never get out from. Government sources claimed that in 2008 and 2009, “the U.S. labor market lost 8.4 million jobs, or 6.1% of all payroll employment. This was the most dramatic employment contraction (by far) of any recession since the Great Depression. By comparison, in the deep recession that began in 1981, job loss was 3.1%, or only about half as severe.” During these specific moments in history, these circumstances have demanded the attention of many Americans to engage the issue of poverty. According the Encyclopedia Britannica, poverty is best defined as- “The state of a society that lacks usual or socially acceptable amounts of money or material possessions. Whatever definition one uses, authorities and laypersons alike commonly assume that the effects of poverty are harmful to both individuals and society." The issue with poverty has never been whether or not it exists, but on how a society can objectively measure or define what it means to be poor. In any society there are two forms of poverty that are socially argued over, they are known as Absolute and Relative…

Related Documents