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The Great Recession of 2007: An Agenda for Social Justice
Authors:John R. Belcher  Carolyn Tice
Affiliation:1. School of Social Work, University of Maryland, Baltimore, Maryland, USA;2. School of Social Work, University of Maryland Baltimore County, Baltimore County, Maryland, USA
Abstract:
The Great Recession, the most severe economic crisis since the Great Depression, officially began in December 2007 with an 8 trillion dollar housing bubble and lasted until June 2009, resulting in loss in consumer spending and collapse in the nation’s business investment. For American workers, the Great Recession had far-reaching implications: unemployment, underemployment, pay cuts, and cutbacks in household spending. Although social work has a historical commitment to address the vulnerabilities of people and communities, we argue that the profession neglected to understand fully the factors associated with the Great Recession and to mount an agenda for justice in response to its worker-related impact.
Keywords:Banking  financial instability  poverty  recession  unemployment
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