The Spanish Transition To Democracy In Spain

1. The Spanish transition to democracy was the era when Spain moved from the dictatorship of Francisco Franco to restoration of the Spanish Monarchy. The transition is usually said to have begun with Franco’s death on November 20 of 1975, while its completion has been variously said to be marked by the Spanish Constitution of 1978, the failure of an attempted coup on 23 February 1981, or the electoral victory of the Spanish Socialist Workers' Party (PSOE) on 28 October 1982.

2. After converging to the EU average during the long boom that started in the late 1990s and ended abruptly in 2007, the unemployment rate in Spain surged to almost 23 percent by the end of 2011. Moreover, it reached 25 percent by the end of 2012, marking the third time since the arrival of democracy (1978) that such unbearable heights have been reached. The Spanish unemployment rate is not only very high, but also very volatile relative to other countries. The main culprits for such an unfortunate state of affairs are the dual nature of the Spanish labor market – on average, 33 percent of employees had a temporary job before the crisis, and currently 25 percent do, after massive job losses since 2007– and the rigid collective-bargaining system.

3. It was positive in the sense that you cannot learn from a big mistake that hasn't happened; it's not in your realm of knowledge and therefore similar crises, possibly waiting to occur in the future, won't be properly prepared for and addressed systematically by a nation united by a massive economic downturn- like the Great Recession. It was negative because of the lives lost, the homes left vacant, the people left hungry, the jobs lost, and the families broken apart.

4. After steady employment growth since the 1990s, Spain has experienced the sharpest increase in unemployment among almost all countries during the crisis, amplified by structural problems of the labor market. Very high de facto severance payment of permanent contracts has resulted in a rigid dual market with adverse effects on unemployment and productivity; The collective wage bargaining system has hindered private firms from adapting to macroeconomic shocks exacerbating their negative effects on the labor market.

Show More

Related Documents: The Spanish Transition To Democracy In Spain

RÃ©sumÃ© Marketing Management, 14th Edition - Kotler & Keller Essay