In economics, a recession occurs when there is a slowdown in spending on goods and services in the market. A recession leads to a decline in employment, GDP growth, investments as well as societal well-being. All recessions are caused by a specific cause, but the Great Recession of 2007-2009 was caused by a housing market crash. This crash was triggered by a sharp drop in house prices. All of a sudden, people were buying houses because there was too much money in the economy and they thought house prices would only go up. (Amédéo, 2012). There was a financial frenzy as the growing desire for housing increased. People had a lot of confidence in the economy and started spending irrationally on homes they couldn't afford. This has led to an overvaluation of assets and unsustainable mortgage debt. (McConnell, Brue, Flynn, 2012). The recession officially began when the $8 trillion housing bubble burst. (State of Working America, 2012) Before that, institutions packaged mortgage debt into derivatives sold to financial investors. Derivatives were initially intended to manage risk and protect against downsides, but investors used them to take on more risk to maximize profits and returns. (Zucchi, 2010). Investors have purchased insurance against losses that may arise from the securities so that they can secure their money. Mortgage defaults skyrocketed unexpectedly, causing the securitization and insurance structure to collapse. (McConnell, Brue, Flynn, 2012). The problem of moral hazard arose. Large corporate investors thought they were too big for the government to let them go bankrupt. They were encouraged to make even riskier investments. As a result, unemployment increased. In December...... middle of article ......training from a world leader in research and development, academic research and innovation. The Netherlands, another of the best economies in the world, has a high-quality healthcare system. (Hess, Frohlich, 2013). By improving health, education and training, society will feel more confident and optimistic about its skills and potential. Their prosperity will bring more productivity and growth to their economy. Better health and education will also encourage more research, development and innovation. There will be technological and medical advances and innovations. People will start opening their own small businesses and corporations, creating more jobs in the economy. (Zakaria, 2011). Better government regulation and higher education, health and training will strengthen a country's economy and society and enable them to operate more effectively in the global context..