
This article was exclusively written for The European Sting by Ms. Basmala Samir, a highly motivated medical student with a keen interest in psychiatry. She is affiliated with the International Federation of Medical Students Associations (IFMSA), cordial partner of The Sting. The opinions expressed in this piece belong strictly to the writer and do not necessarily reflect IFMSA’s view on the topic, nor The European Sting’s one.
With the rise of inflation due to the many ongoing wars, and the decreased likelihood of minimum wages increasing, what happens to the poor with average incomes during periods of economic crises? The causes and consequences due to poverty are numerous, but there are sources which all intertwine with each other that are very prominent and prevalent within our world we can be easily pinpointed.
- Price changes. Many problems could occur due to relative price changes, more specifically, currency fluctuations and depreciation. This can lead to wages being cut, and prices of human basic necessities being on the rise.
- Higher unemployment rates. Building up on my last point, as the cost of manufacturing items have increased, many workers may be fired or leave due to wages not being enough to supply the cost of living, this can greatly impact the economy as a whole as unemployment rate rises and supplying demanded items or necessities isn’t sufficient enough, leading to a further increase on items -which may be basic needs- now scarce.
- Increased exploitation in both the legal and illicit economy. The reduction in jobs may mean higher levels of exploitation as workers are forced to work in increasingly poor conditions, or worse, the illicit economy. Meaning, people may turn to illegal means of gaining money in order to do the bare minimum; survive.
- Greater vulnerability to human trafficking. During economic decline, more people may travel or migrate away from their home in search of economic opportunities abroad. Unfamiliar with fair labor practices, many fall prey to human traffickers, who deceive them into situations of forced labor or commercial sexual exploitation. Leading to a society where ultimately the poor are exploited for the benefit of the rich.
- Increased school dropout rates among children. Parents may be forced to take their children, especially girls, out of school and into the workforce to supplement household incomes. Not only does this lead to a society where child labour may become prevalent, but a decrease in education and literacy levels among civilians, that can have a great consequence on the future of the country. Furthermore, work deprives children of their childhood, their potential and their dignity, as their autonomy (until they become a legal adult) “belongs to their parents” and that is harmful to physical and mental development, even if forcing them into labor may be “for them to survive”.
- Minorities are affected more than the rest of society. Women, people of color, disabled people, LGBTQ+ people as well as many more minorities are the most affected by economic crises in various ways, not only do they face discrimination regularly, but it exponentially rises when there is a repercussion within the society they are in due to a preference for men, able-bodied and/or white people.
- About the author
- Basmala Samir is a highly motivated medical student with a keen interest in psychiatry. She is also a human’s rights advocate, hoping to make a positive impact and cause a change within Egyptian society, and the world. In addition to her studies, She is also an artist who has a passion for writing poetry. To sum up, she is an ambitious individual who combines her passion for writing, with her passion to cause a change.
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