Question

The world-wide recession since 2008 has had many consequences on societies, institutions and individuals. Discuss which age group has been suffering the most severe consequences. Give reasons why and use the terms that life-span developmental psychology has introduced to conceptualize influences on human development.

Answer 1

Hello

With the Global Financial Crisis in 2008 hitting an all time low in the economy of many cities,and as your question suggests it had affected many sectors and individual and as per my knowledge and research it is the YOUNG ADULTS who were mostly affected and had to face worse economic loss.Study has found that more than ONE IN FIVE 18-34 year olds have experienced a steep drop in income because millions of Americans have seen a drop in their economy sice 2008 with job loss,falling income,collapse of housing prices,while the rate of people with out job is rising so are people in poverty rising who struggle to meet basic needs .Young Adults is the age group most severely affected by this measurement only one in five baby boomers categorised as 45-65 year olds have seen a fall in the economy since 2008.The Young Adults have had anaemic(very few) job opportunities and are often in debt and living in their parents' house and unable to find financial independence .coming to Life span Psychology, here I want to mention that this field deals with examination of both CONSTANCY and CHANGE in human behaviour across the entire life span I.e., from conception to death. The socio -economic conditions affect the YOUNG ADULTS .A few factors influencing human development are continuity and discontinuity ,stability and CHANGE, Maturation vs experience ,AGE GRADE:(here I mean socially defined age group by society),roles , privileges,responsibilities.

Age norms:Behavioural expectations by age ,(influencing when things should be done)and adjustments with changing life .

Hence the above terms explain best as to why it is the YOUNG ADULTS who suffer more worse consequences than anyone else and the terms describe it best as age grade expects certain respinsiblities to be fulfiled as getting a job , getting a place for self and being financially independent and since 2008 these are the sectors that has hit an all time low with fewer job and low housing facilities leaving the young adult venerable to poor financial consequences.

Thankyou ,hope this helped.