Economics of the Crisis [Debate]

It is difficult to comprehend the true nature of the economic downturn, as it has been so phrased by my many of the large media corporations. There are those who state that it is nothing more than a 'bump in the road', so to speak. Others have argued that it is a representation of the consequence of corporate greed and an international ambition to develop a constantly developing economy.

For the most part, I agree with both statements, although for different reasons. I have often noted that, when suffering troubled times, communities fall together as though to stand united in the fight against that which is opposed to them. In both world wars, communities stood together to fight against the tyranny of another nation. Indeed, I would hope that, in times of economic difficulty, communities will come together to support one another as a good neighbour should.

Alas, onto the matters of economic failure. For all that it is worth, I am not one to state that I have a wealth of information in regards to the economic climate but the sheer visual nature of the downturn represents a problem within this nation, and indeed in many other nations.

I have seen crowds standing in JobCentre Plus, constantly seeking labour in a time when the government is claiming to create tens of thousands of jobs for those who have been made redundant. Prices continue to fluctuate in most supermarkets and it has become a battle of the brands to become 'top dog' in a market where people are constantly seeking the lowest price.

It's a sad sight, knowing that there are those who could have prevented this consequence. The Times, a respected newspaper, published a list of those responsible for the economic downturn and I must admit that I agree with most, if not all.

It's of little surprise that Gordon Brown was listed, following the economic ideals of a man who, in later years, agreed that the end result of his economic approach would be a 'boom and bust' economy. In a world where phrases are being thrown around with such great ease and the finger is being pointed, it seems that things will only get worse.

Predictably, government initiatives have done little to resolve the problem, especially some of the more controversial policies which were introduced. The 2.5% VAT reduction, for example, has done little to motivate spending and most people would agree that it is not worthwhile. What use is a reduction that, when spending £400, the consumer saves £10.

Having said that, we cannot expect the government to wave a wand and the world will be right once more. Sadly, neither the government nor Gordon Brown has the power to do that. It is within our power to change the state of our nation from one that seems to be growing to represent 1984 (George Orwell) to a nation that represents communities, freedom and liberty.

I cannot imagine that the economic climate will return to normality in the next year. In the legal profession, where 2,200 redundancies have been made so far, claims of a return to normality have been predicted for 2011/2012. We must wait for the time when we can stand again and be proud of our nation.

The question is; how long will we have to wait?