New Horizons in Management series
Chapter 6: The consequences of occupational stress in times of a changing economic world
In the previous chapter, we outlined to the reader the various macro and micro occupational stressors that have emerged during this ongoing recessionary period, and furthermore these stressors have been discussed in relation to the Dynamics of work stress model presented in the previous chapter (Figure 5.1). Whilst certain countries are indeed showing the first signs of financial recovery from the worst economic crisis experienced since the Great Depression of the 1930s, it is also understood that the position of economic affairs needs to be assessed globally and not looked at in relation to one or two specific countries in isolation. This is necessary as the economic status of one country will certainly cause friction and turmoil in neighbouring countries, and such is the case that the effects of globalization and corresponding negative world affairs are seen to be interdependent, thereby affecting all employees in most societies at the current time. Furthermore the economic problems today are unlike previous world economic problems of the past and, more specifically, it should be acknowledged that the current world economic crisis is a crisis of ‘debt’ and not a crisis of ‘demand’.
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