Liene Ozoliņa : Why do we blame individuals for economic crises?

 Liene Ozoliņa·TEDxRiga

Why do we blame individuals for economic crisis?

Summary

I also think about the reason for the title because of coronavirus, the same things will happen. It stopped the world economy, many people are still struggling, and we want to find criminals. The situation must be, l think, that the result that we continue doing. Now is the time to change.

The story was about the Latvian economic crisis in 2008 when the global financial crisis decimated Latvia. The unemployment was increasing, the government slashed public funding, raised taxes, and provided relief to only the wealthy and large businesses. People without them accepted the responsibility that is laziness or criminality for the country’s failing economy.

However, the speaker who is a political sociologist thought that it’s wrong.

The social programs that emphasize individual responsibility must create poverty and inequality, and it shouldn’t have become common across the world.

It should give them real means to get out of poverty other than emigrating. It’ll be necessary to connect with one another more than reading self-help books, going to seminars, and receiving moral education. Compassionate social politics that has the purpose of social justice and equality should be created by the government.