- March 28, 2013
- Posted by: essay
- Category: Term paper writing
The economic crisis in Argentina has revealed a number of drawbacks of the contemporary Argentinean economy and the injustice of the existing economic system for average people. In this regard, it is possible to refer to the example of the unemployed, who has been unemployed for six months and the economic crisis in Argentina has slaved away his whole life. In fact, his experience reveals the negative impact of the economic crisis on his life and work. At this point it is important to place emphasis on the fact that millions of people lose their job in the time of economic recession. Argentina grew dependent on the International Monetary Fund and foreign capital. In such a situation, average workers have become victims of the dependence of Argentina on foreign capital because Argentina borrowed money from the IMF, whereas it was average workers, who had to pay off the debts of the state.
At the same time, the trend to covering financial losses from financial crises at costs of the poor and workers can be traced in other countries, such as the US.
At this point, it is possible to refer to the recent economic recession in the US, which provoked the rapid growth of the unemployment rate and the desperate position of millions of Americans, who had lost their jobs. In such a situation, the government conducts irresponsible policies because the government pays little attention to needs of workers and average people. Instead, the government is more concerned with the interests of large corporations and capital.
Thus, taking into account all above mentioned, it is important to place emphasis on the fact that Argentina’s experience shows the full extent to which the existing economic system is unjust in relation to average people.