Analysis of the Economic Impact of the Major Social Problem of Poverty Assignment

digest of the Economic Impact of the Major Social riddle of P overty - Assignment ExampleIndeed, the oblige vividly shows that the government of New York City must caution the residents in their desire to climb surface of their current want debacle. Subject Business Topic word Analysis Introduction In terms of discussing the model or scotch theory that relates to the issue presented in the news article, the economic theory in focus is a supply and demand theory. As prices of goods and serve increase, the demand for the products and services decrease. Likewise, as the prices of goods and services increase, the supply of the goods and services increase (Arnold, 2008). In terms of discussing what economic theory states and predicts ab forbidden the issue presented in the news article, as the prices of goods and services increase, the poverty level spate will reduce their demand for the higher priced products. On the other hand, as the prices of goods and services increase, the business entities are eager to supply more services and goods in order to generate more profits (Boyes, 2010). Analysis of the Economic Impact of the Major Social Problem of Poverty The April 12, 2012 issue of the New York Times article is reflection on poverty. The title of the article is New York Citys Poverty Rate Rises, schooling Finds (Roberts, 2012). The paper shows strong evidence there has been an increasing number of New York residents joining the ranks of the poor over the last years. The number of New York City residents has literally increased by 100,000 individuals. With the increase, the poverty ratio soared by as much as 1.3 percent. The new poverty rate is 21 percent. The percent indicates that one out of every five New York residents qualifies as poor. The article further states that New York has one of the highest poverty levels in the U.S. Once New York has implemented a more detailed description which defines who can be classify as a poor individual, current New York Citys statistics of the poor has the largest annual ascending in poverty ratio. As Jan Windebank emphasized, Throughout the advanced economies, the widespread consensus is that employment is the best route out of poverty. Not only are the approaches of both the Old Left and New Right grounded in much(prenominal) a belief, but so too is the employment-focused third way approach of New Labor. In this book, however, our intention is to begin to explain why an alternative third way discourse has started to emerge that rejects an employment-centered approach to poverty alleviation (Windebank, 2003). The current recession, which started in 2008, is blamed as the major culprit for the ballooning of the poor individuals in New York City. The recession brought a lot of the United States companies into the unfavorable quagmire of bankruptcy. With bankruptcy enveloping more or less of the companies in the United States skies, those that cannot innovate are forced to close shops. Wi th the closing of the shops, many employees are retrenched. With the damage of their jobs, the retrenched employees could not afford to retain their previous lifestyle. The retrenched employees had to join the long line of New Yorkers waiting for their wriggle to grab a set of food coupons. With the slowing of the United States economic wheel into a garners pace, statistics showed that one out of every four New York residents, under the age of 18 years, get together the poor of New York, the city that never sleeps. New York Citys Center for Economic probability reported the latest poverty report. Likewise, the 2008 U.S. Economic crisis is