Effects of Recession Aren’t All Negative
Coping with Unemployment
Millions of people around the world have fallen victim to the current recession. Business houses with international reputations have filed for bankruptcy and employees who were confident of their job security have been dismissed. While the experience of unemployment is common, the reactions of the unemployed vary widely. Unfortunately, many people allow their worlds to collapse around them once the job they have worked at for years has disappeared, and they add mental anguish to the financial sufferings that usually come with job loss. However, there are also those who lose their job and are able to take advantage of these unfortunate circumstances to make a new start in life. As with many other things in life, a great deal depends on whether you choose to view changes in circumstances as a personal disaster or a source of motivation. A search on Google for “starting a new business” turns up an incredible 70,000,000 hits, which surely indicates that despite the downturn, there is a healthy interest in new business opportunities.
Redundancy Can Lead to Something Much Better
Although the vast majority of people are upset when they are made redundant – unless they receive a generous early retirement package – some workers find a silver lining in the dark cloud of job loss. Redundancy sometimes furnishes an opportunity to make a welcome break with a “dead end” job and start enjoying life. For instance, employees who lost their positions working for large companies have found this event gave them the motivation to go ahead and set up their own businesses, and they have succeeded beyond expectations. Instead of having to fit into the schedule of somebody else’s business and being paid a fixed wage, they now find they can manage their own time and they feel their quality of life has consequently improved and their financial status advanced. Rather than allow the economic recession to wreck their lives they take advantage of it to realize their dreams. In some cases, unemployed people have also been able to transform a former hobby into a source of livelihood, or they have taken their professional skills and applied them in new fields such as teaching or consultancy. For example, www.gaebler.com describes how a forms consultant for a small software company took advantage of his redundancy to open his open business training other people to become consultants.
Environmental Side Benefits from Industrial Decline
Just as the recession has brought unforeseen benefits to some of the individuals affected, its impact on the life of nations has also revealed a positive side. A good example of how recession has led to an improvement in life quality comes from the North of England. This area is famous as the cradle of the Industrial Revolution, and it has suffered severely from a loss of jobs in traditional industries like textiles and coal mining over the last forty years. At the same time, the decline of industrial activity has been responsible for a dramatic improvement in the quality of the environment. The industrial sources of water and air pollution have been so dramatically reduced that fish have returned to rivers that have been biologically dead for over 150 years, and respiratory diseases have been much reduced by the cut in factory smoke emissions. The river Irwell in England is a classic example of a dead river that has returned to life as the polluting factories along its banks closed down. The people may now be poorer, but at the same time their environment is so much healthier.