Individuals with higher economic insecurity manifest greater self‐serving bias

Author(s):  
Chunkai Li ◽  
Hongjuan Tang ◽  
Weidong Zhang ◽  
Xiaoyan Wang ◽  
Li Zheng ◽  
...  
Keyword(s):  
Author(s):  
Adam Seth Levine

Americans today face no shortage of threats to their financial well-being, such as job and retirement insecurity, health care costs, and spiraling college tuition. While one might expect that these concerns would motivate people to become more politically engaged on the issues, this often doesn't happen, and the resulting inaction carries consequences for political debates and public policy. Moving beyond previously studied barriers to political organization, this book sheds light on the public's inaction over economic insecurities by showing that the rhetoric surrounding these issues is actually self-undermining. By their nature, the very arguments intended to mobilize individuals—asking them to devote money or time to politics—remind citizens of their economic fears and personal constraints, leading to undermobilization and nonparticipation. The book explains why the set of people who become politically active on financial insecurity issues is therefore quite narrow. When money is needed, only those who care about the issues but are not personally affected become involved. When time is needed, participation is limited to those not personally affected or those who are personally affected but outside of the labor force with time to spare. The latter explains why it is relatively easy to mobilize retirees on topics that reflect personal financial concerns, such as Social Security and Medicare. In general, however, when political representation requires a large group to make their case, economic insecurity threats are uniquely disadvantaged. Scrutinizing the foundations of political behavior, the book offers a new perspective on collective participation.


Author(s):  
Jayati Ghosh

The decade of the 2000s was a period of boom and bust when, despite rising prosperity in general, there was increased inequality and heightened economic insecurity for most people in the world. The Survey reports tracked both causes and outcomes, taking a broader view of development that emphasized the importance of economic processes and structural change and recognized the effects of macro imbalances and financial instability, as well as the limits posed by ecological damage and social tensions. Several concerns—and possible solutions—outlined in the Survey reports still have major contemporary relevance, including the importance of countries adopting their own national development strategies and the need for international cooperation.


2016 ◽  
Vol 53 (1) ◽  
pp. 94-109 ◽  
Author(s):  
Rose Butler

This article contributes to our understanding of how children cope with economic insecurity in affluent nations. Based on research with children and adults in regional Australia, it argues for the importance of cultural narratives in making sense of children’s strategies to cope with financial hardship. Drawing on Goffman’s concept of ‘facework’, and recent analysis by Pugh, it analyses the complex forms of facework that children use to manage situations of economic insecurity and shows how such practices may be anchored in cultural narratives of ‘fairness’. Goffman’s ‘facework’ refers to the expressive order required to save face, a term used to signify how we participate in a social regime, particularly when we perform unexpected feelings. In this article, the author develops a theoretical framework to analyse three types of facework used by children from low-income families in this Australian context, and coins these practices ‘going without’, ‘cutting down’, and ‘staying within’. Through such facework, children sought to maintain inclusion and uphold dignity, practices which were increasingly difficult amidst rising inequality. This raised contradictions in belonging and acceptance among others, particularly for children from refugee backgrounds.


2018 ◽  
Vol 18 (3) ◽  
pp. 215-245 ◽  
Author(s):  
Mallory E. Compton

Rising economic insecurity in recent decades has focused attention on the importance of social welfare programs in managing household financial stability. Some governments are more effective than others in managing this outcome, and informal social institutions help explain why. Social capital is expected to shape economic security through multiple mechanisms, but whether the effect is to magnify or mitigate volatility is an open question. Part of the answer has to do with how social capital interacts with policy implementation, and whether it conditions the effectiveness of government spending. Evidence from the U.S. states from 1986 to 2010 fails to support a benevolent social capital thesis—not only is social capital associated with greater economic insecurity, there is no evidence that it improves social welfare effectiveness. However, greater spending on some social programs can mitigate the adverse impact of social capital on economic security.


2017 ◽  
Vol 41 (2) ◽  
pp. 67-77 ◽  
Author(s):  
ROBIN T. HIGASHI ◽  
SIMON CRADDOCK LEE ◽  
CARLA PEZZIA ◽  
LISA QUIRK ◽  
TAMMY LEONARD ◽  
...  

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