scholarly journals A Clinical Economy of Speculation: Financial Trading and Gambling Disorder in Spain

2017 ◽  
Vol 32 (2) ◽  
pp. 269-293 ◽  
Author(s):  
Jorge Núñez
Keyword(s):  
Financial Markets ◽  
Great Recession ◽  
Gambling Disorder ◽  
Problem Gambler ◽  
Individual Level ◽  
The Great Recession ◽  
Financial Trading ◽  
Financial Speculation ◽  
The Individual

This article concerns itself with financial traders in Spain who have been diagnosed with gambling disorder. It analyzes what I call the clinical economy of speculation, in which the category of problem gambler is repurposed to draw new lines around proper financial trading. In exploring the expansion of post–financial crisis regulatory mechanisms for credit and debt, as well as widening inequalities across the field of investment, I depict how both traders and clinicians become invested in medicalizing trading as gambling disorder. My theorizing interrogates whether and why common speculative practices are seen as sick and unsafe when everyday people, instead of banks and other financial institutions, perform them. I argue that the pathologized trader is an attempt to regulate, at the individual level, the increasing use of borrowed capital to make financial profits. The commodification of debt, however, is not a gender-neutral development. Female traders pay a greater price for venturing into the heights of finance. This focus on gender brings into view the redefinition of credit and debt within the domain of trading, and shows the role of debt-fueled financial speculation in the expansion of financial markets. These ethnographic findings are particularly relevant in a country like Spain, where the Great Recession has bred more new millionaires than ever before, even as the smaller fish of the economy are being medicalized and sometimes even incarcerated.

scholarly journals Health Care Use, Out-of-Pocket Expenditure, and Macroeconomic Conditions during the Great Recession

2015 ◽  
Vol 15 (1) ◽  
pp. 119-156 ◽  
Author(s):  
Juan Du ◽  
Takeshi Yagihashi
Keyword(s):  
Health Care ◽  
Great Recession ◽  
Health Care Use ◽  
Care Utilization ◽  
Program Participation ◽  
Consumer Expenditure ◽  
Macroeconomic Conditions ◽  
Individual Level ◽  
The Great Recession ◽  
The Individual

Abstract We study how macroeconomic conditions during the Great Recession affected health care utilization and out-of-pocket expenditures of American households. We use two data sources: the Consumer Expenditure (CE) Survey and the Survey of Income and Program Participation (SIPP); each has its own advantages. The CE contains quarterly frequency variables, and the SIPP provides panel data at the individual level. Consistent evidence across the two datasets shows that utilization of routine medical care was counter-cyclical, whereas hospital care was pro-cyclical during the Great Recession. When we examine the pre-recession period, the relationship between macroeconomic conditions and health care use was either non-existent or in opposite directions, suggesting that this relationship may have been unique to the Great Recession.

scholarly journals Moving to a Job: The Role of Home Equity, Debt, and Access to Credit

2017 ◽  
Vol 9 (2) ◽  
pp. 149-181 ◽  
Author(s):  
Yuliya Demyanyk ◽  
Dmytro Hryshko ◽  
María Jose Luengo-Prado ◽  
Bent E. Sørensen
Keyword(s):  
Labor Markets ◽  
Great Recession ◽  
The United States ◽  
Home Equity ◽  
Access To Credit ◽  
Individual Level ◽  
The Great Recession ◽  
Significant Barrier ◽  
Out Of Area

We use individual-level credit reports merged with loan-level mortgage data to estimate how home equity interacted with mobility in relatively weak and strong labor markets in the United States during the Great Recession. We construct a dynamic model of housing, consumption, employment, and relocation, which provides a structural interpretation of our empirical results and allows us to explore the role that foreclosure played in labor mobility. We find that negative home equity is not a significant barrier to job-related mobility because the benefits of accepting an out-of-area job outweigh the costs of moving. This pattern holds even if homeowners are not able to default on their mortgages. (JEL D14, G01, J61, R23, R31)

scholarly journals Radical-Left Populism during the Great Recession: Podemos and Its Competition with the Established Radical Left

2016 ◽  
Vol 65 (1_suppl) ◽  
pp. 108-126 ◽  
Author(s):  
Luis Ramiro ◽  
Raul Gomez
Keyword(s):  
Economic Crisis ◽  
Great Recession ◽  
Individual Level ◽  
The Great Recession ◽  
Left Party ◽  
The Individual ◽  
Populist Party ◽  
Radical Left

The 2008 Great Recession has altered party allegiances in many countries. This has been very visible in some of the countries hardest hit by the crisis, such as Spain. The Spanish case stands out as the only one in which a fully newly created radical-left populist party, Podemos, has attracted sizeable support. Its success is more intriguing given its capacity to attract many former supporters of the established radical left, Izquierda Unida. This article analyses what factors explain the support for the new radical-left populist party Podemos, identifying the individual-level features that lead voters to support it rather than an already established anti-austerity radical-left party. As the results show, Podemos supporters do not correspond to the conventional descriptions of populist voters, the losers of ‘globalisation’ and the economic crisis. Instead, a combination of elements – protest, anti-mainstream sentiment and unfulfilled expectations – distinguishes Podemos supporters from the established radical-left electorate.

Real Estate

2017 ◽  
Author(s):  
Stefan Homburg
Keyword(s):  
Real Estate ◽  
Great Recession ◽  
House Prices ◽  
Borrowing Constraints ◽  
Macroeconomic Models ◽  
Land Prices ◽  
The Great Recession ◽  
Quantitative Importance

Chapter 6 examines real estate as a neglected feature of actual economies. It begins with an empirical overview demonstrating the preeminent role of land as a part of nonfinancial wealth. Whereas many macroeconomic models represent nonfinancial wealth by a symbol K that is interpreted as machines and equipment (if not robots), the text makes clear that such items are of minor quantitative importance. In contemporary economies, nonfinancial wealth consists chiefly of real estate. This is the proper reason so many analysts conjecture a link between house prices and the Great Recession. Changes in house prices (primarily changes in land prices) operate on the economy through their influence on nonfinancial wealth. Nonfinancial wealth affects consumption directly and investment indirectly since it relaxes or tightens borrowing constraints. Building on the results obtained in previous chapters, the text studies housing manias and leverage cycles and relates its main findings to US data.

Disruptive Soft Law and Post-Crisis US Reform

2018 ◽  
Author(s):  
Abraham L. Newman ◽  
Elliot Posner
Keyword(s):  
Financial Markets ◽  
Great Recession ◽  
Regulatory Reform ◽  
The United States ◽  
Soft Law ◽  
Long Term Effects ◽  
The Great Recession ◽  
The Us ◽  
International Interaction

Chapter 6 examines the long-term effects of international soft law on policy in the United States since 2008. The extent and type of post-crisis US cooperation with foreign jurisdictions have varied considerably with far-reaching ramifications for international financial markets. Focusing on the international interaction of reforms in banking and derivatives, the chapter uses the book’s approach to understand US regulation in the wake of the Great Recession. The authors attribute seemingly random variation in the US relationship to foreign regulation and markets to differences in pre-crisis international soft law. Here, the existence (or absence) of robust soft law and standard-creating institutions determines the resources available to policy entrepreneurs as well as their orientation and attitudes toward international cooperation. Soft law plays a central role in the evolution of US regulatory reform and its interface with the rest of the world.

scholarly journals Ambidexterity as Practice: Individual Ambidexterity Through Paradoxical Practices

2020 ◽  
Vol 56 (2) ◽  
pp. 143-165 ◽  
Author(s):  
Angeliki Papachroni ◽  
Loizos Heracleous
Keyword(s):  
Organization Theory ◽  
Practice Theory ◽  
Greek Philosophy ◽  
Exploration And Exploitation ◽  
Individual Level ◽  
Competing Demands ◽  
The Individual ◽  
Previous Learning

Following the turn to practice in organization theory and the emerging interest in the microfoundations of ambidexterity, understanding the role of individuals in realizing ambidexterity approaches becomes crucial. Drawing insights from Greek philosophy on paradoxes, and practice theory on paradoxes and ambidexterity, we propose a view of individual ambidexterity grounded in paradoxical practices. Existing conceptualizations of ambidexterity are largely based on separation strategies. Contrary to this perspective, we argue that individual ambidexterity can be accomplished via paradoxical practices that renegotiate or transcend boundaries of exploration and exploitation. We identify three such paradoxical practices at the individual level that can advance understanding of ambidexterity: engaging in “hybrid tasks,” capitalizing cumulatively on previous learning, and adopting a mindset of seeking synergies between the competing demands of exploration and exploitation.

scholarly journals How Can Psychological Science Help Counter the Spread of Fake News?

2021 ◽  
Vol 24 ◽  
Author(s):  
Sander van der Linden ◽  
Jon Roozenbeek ◽  
Rakoen Maertens ◽  
Melisa Basol ◽  
Ondřej Kácha ◽  
...  
Keyword(s):  
Research Agenda ◽  
Source Credibility ◽  
Fake News ◽  
Intervention Effectiveness ◽  
Motivated Cognition ◽  
Individual Level ◽  
Psychological Science ◽  
Open Questions ◽  
The Individual

Abstract In recent years, interest in the psychology of fake news has rapidly increased. We outline the various interventions within psychological science aimed at countering the spread of fake news and misinformation online, focusing primarily on corrective (debunking) and pre-emptive (prebunking) approaches. We also offer a research agenda of open questions within the field of psychological science that relate to how and why fake news spreads and how best to counter it: the longevity of intervention effectiveness; the role of sources and source credibility; whether the sharing of fake news is best explained by the motivated cognition or the inattention accounts; and the complexities of developing psychometrically validated instruments to measure how interventions affect susceptibility to fake news at the individual level.

scholarly journals Oral Sensitivity to Flowability and Food Neophobia Drive Food Preferences and Choice

Foods ◽  
2021 ◽  
Vol 10 (5) ◽  
pp. 1024
Author(s):  
Sharon Puleo ◽  
Paolo Masi ◽  
Silvana Cavella ◽  
Rossella Di Monaco
Keyword(s):  
Food Choice ◽  
Food Preferences ◽  
Food Neophobia ◽  
Individual Level ◽  
Choice Preference ◽  
Food Liking ◽  
Texture Sensitivity ◽  
The Individual ◽  
Oral Sensitivity

The study aimed to investigate the role of sensitivity to flowability on food liking and choice, the relationship between sensitivity to flowability and food neophobia, and its role in food liking. Five chocolate creams were prepared with different levels of flowability, and rheological measurements were performed to characterise them. One hundred seventy-six subjects filled in the Food Neophobia Scale and a food choice questionnaire (FCq). The FCq was developed to evaluate preferences within a pair of food items similar in flavour but different in texture. Secondly, the subjects evaluated their liking for creams (labelled affective magnitude (LAM) scale) and the flowability intensity (generalised labelled magnitude (gLM) scale). The subjects were clustered into three groups of sensitivity and two groups of choice preference. The effect of individual flowability sensitivity on food choice was investigated. Finally, the subjects were clustered into two groups according to their food neophobia level. The sensitivity to flowability significantly affected the liking of chocolate creams and the solid food choice. The liking of chocolate creams was also affected by the individual level of neophobia (p = 0.01), which, in turn, was not correlated to flowability sensitivity. These results confirm that texture sensitivity and food neophobia affect what a person likes and drives what a person chooses to eat.

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