Economic and social effects of a recession : its effects on the labour market in the manufacturing sector in Malta

Abstract

As the title says the Long Essay will be on the effects that recessions have on the social and economic life of our society and of the countries involved. A description of what recession means and how it is created will be made and commented upon. At this present time the world is passing from a recession and I am going to attempt to shed light on the impact it is having on Maltese families. A study of what is and can be done to limit this impact on our economy, if possible, will be made. This study will also include what other countries are doing to limit the impact on society especially the working class. Another main area of this Long Essay is a study of the economic history of the twentieth century with the scope of reviewing the century's two main economic systems, i.e. the planned or command economy and the free-market or laissez faire economy