The Economic and Social Value of Financial Literacy

2021 ◽  
pp. 416-436
Author(s):  
José Manuel Sánchez Santos
Keyword(s):  
Social Welfare ◽  
Empirical Evidence ◽  
National Economy ◽  
Financial Literacy ◽  
Social Value ◽  
The Other ◽  
Financial Instability ◽  
Allocation Of Resources ◽  
Financial Decisions ◽  
The One

The main objective of this chapter is to provide new insights into the economic and social value that financial literacy has for individuals and societies. Financial literacy has implications that are relevant both at a micro (especially for households) and macro-level (for the financial system and for the national economy as a whole). On the one hand, a lack of financial literacy put households a risk from making sub-optimal financial decisions and prevent them to maximize their wellbeing. On the other hand, financial literacy favors a better allocation of resources, reduces the risks associated with episodes of financial instability, and therefore, contributes to the increase of social welfare. The analysis and the empirical evidence showing the benefits (costs) of financial literacy (illiteracy) allows to conclude that policymakers have a key role to play implementing initiatives aiming to improve financial literacy of the population at all stages of life.

The Economic and Social Value of Financial Literacy

2020 ◽  
pp. 199-226
Author(s):  
José Manuel Sánchez Santos
Keyword(s):  
Social Welfare ◽  
Empirical Evidence ◽  
National Economy ◽  
Financial Literacy ◽  
Social Value ◽  
The Other ◽  
Financial Instability ◽  
Allocation Of Resources ◽  
Financial Decisions ◽  
The One

The main objective of this chapter is to provide new insights into the economic and social value that financial literacy has for individuals and societies. Financial literacy has implications that are relevant both at a micro (especially for households) and macro-level (for the financial system and for the national economy as a whole). On the one hand, a lack of financial literacy put households a risk from making sub-optimal financial decisions and prevent them to maximize their wellbeing. On the other hand, financial literacy favors a better allocation of resources, reduces the risks associated with episodes of financial instability, and therefore, contributes to the increase of social welfare. The analysis and the empirical evidence showing the benefits (costs) of financial literacy (illiteracy) allows to conclude that policymakers have a key role to play implementing initiatives aiming to improve financial literacy of the population at all stages of life.

Financial Literacy among Rural Women in Darbhanga District:An Empirical Evidence.

2018 ◽  
Vol 5 (1) ◽  
Author(s):  
Prof. F.B. SINGH ◽  
POOJA JHA
Keyword(s):  
Empirical Evidence ◽  
Rural Women ◽  
Financial Literacy ◽  
Rural Population ◽  
Current Status ◽  
Financial Decisions ◽  
The World ◽  
Current Scenario

Financial Literacy is defined as the possession of knowledge and understanding of elementary financial concepts which results in developing the ability to make conversant, poised and effective financial decisions. In current scenario, the concern to increase the level of financial literacy among common masses has been witnessed by many countries of the world through various Financial Literacy center, programme and initiatives but all these programmes and policies are crafted and implemented taking into consideration the male as ultimate receiver and so women who constitute half of the rural population are lagging behind in terms of a making informed financial decisions and financial wellbeing. Hence Strategies should be formulated taking into consideration the women as the main spectators. This paper is an attempt to analyze the current status of the financial literacy among the rural women of the Darbhanga district.

scholarly journals MATERIALISME SEBAGAI PENGHAMBAT PEMBANGUNAN KESEJATERAAN SOSIAL

2019 ◽  
Vol 2 (1) ◽  
pp. 167-171
Author(s):  
Mohammad Sabiq ◽  
Akhmad Jayadi ◽  
Imam Nawawi ◽  
Mohammad Wasil
Keyword(s):  
Social Welfare ◽  
Cultural Values ◽  
Social Theory ◽  
Social Stress ◽  
Economic Inequality ◽  
Developed Countries ◽  
The Other ◽  
Financial Security ◽  
The One ◽  
Positive Effect

Materialism and sich are the driving spirit of the community in achieving economic and financial security that saves a holistic and socially just welfare. This can be seen from the lives of people in materialistic developed countries, where the level of social stress is higher, economic inequality widens, horizontal conflict is rife. This research uses Pierre Felix Bourdieu's social theory in seeing people trust the expenditure of material with other values, such as spiritual and cultural values ​​that are no less urgent as elements of social welfare development. This study found that materialism on the one hand has a positive effect, where people are encouraged to use material standards in measuring the level of welfare they expect. On the other hand, materialism closes the presence of values ​​such as spirituality, local wisdom and agriculture in completing more holistic welfare standards.

Entreprenøren som figur under neoliberalismen - Kapitalisme, individ og velfærdsorganisering

2020 ◽  
Author(s):  
Luise Li Langergaard
Keyword(s):  
Welfare State ◽  
Social Welfare ◽  
Social Entrepreneurship ◽  
The Self ◽  
The Other ◽  
State And Society ◽  
Economic Innovation ◽  
The One ◽  
The Welfare State

The article explores the central role of the entrepreneur in neoliberalism. It demonstrates how a displacement and a broadening of the concept of the entrepreneur occur in the neoliberal interpretation of the entrepreneur compared to Schumpeter’s economic innovation theory. From being a specific economic figure with a particular delimited function the entrepreneur is reinterpreted as, on the one hand, a particular type of subject, the entrepreneur of the self, and on the other, an ism, entrepreneurialism, which permeates individuals, society, and institutions. Entrepreneurialism is discussed as a movement of the economic into previously non-economic domains, such as the welfare state and society. Social entrepreneurship is an example of this in relation to solutions to social welfare problems. This can, on the one hand, be understood as an extension of the neoliberal understanding of the entrepreneur, but it also, in certain interpretations, resists the neoliberal understanding of economy and society.

Paternal Relationships With Sons and Daughters

2021 ◽  
pp. 331-354
Author(s):  
Lambrianos Nikiforidis
Keyword(s):  
Empirical Studies ◽  
The Other ◽  
Same Sex ◽  
Financial Decisions ◽  
Traditional Family ◽  
Biological Sex ◽  
The Family ◽  
The One ◽  
Parental Bias ◽  
Over Time

This chapter examines paternal relationships with sons and daughters. Identity drives investment (and parental investment in particular), because people invest in that which aligns with their identity. And biological sex drives identity. These two ideas combined imply that a parent-offspring match in biological sex can influence parental favoritism in a systematic manner, an idea supported by recent empirical studies. This parental bias of concordant-sex favoritism can have broad implications, outside the context of the traditional family structure. In single parent or same-sex parent households, the consequences of this bias can be even stronger, because there would not be an opposite-direction bias from the other parent to even things out. This favoritism could have even broader ramifications, entirely outside the context of the family. On the one hand, whenever social norms dictate that men should control a family’s financial decisions, then sons may systematically receive more resources than daughters. This asymmetry in investment would then result in ever-increasing advantages that persist over time. On the other hand, if women are a family’s primary shoppers, this can manifest in subtle but chronic favoritism for daughters.

Cooperatives as Responsible and Innovative Entrepreneurial Ecosystems in Smart Territories

2017 ◽  
pp. 459-490
Author(s):  
Francisca Castilla-Polo ◽  
Dolores Gallardo-Vázquez ◽  
M. Isabel Sánchez-Hernández ◽  
María del Consuelo Ruiz-Rodríguez
Keyword(s):  
Social Responsibility ◽  
Olive Oil ◽  
Rural Areas ◽  
Business Models ◽  
Social Value ◽  
The Other ◽  
Entrepreneurial Ecosystem ◽  
Entrepreneurial Ecosystems ◽  
The One ◽  
The Relationship

Nowadays, and more than never, businesses´ stakeholders are demanding Social Responsibility (SR) and innovation. In this situation, any business is concerned about how to implement social and innovative practices in creating economic and social value at the same time. This chapter analyzes the relationship between SR and innovation in cooperatives. On the one hand, even acknowledging that the degree of implementation of SR is still different in companies, cooperatives seem to be responsible by nature. However, on the other hand, traditionally innovation has been not a visible strength in the cooperative enterprises. The focus is centered on a specific place: the olive oil cooperatives in the south of Spain and we will describe the cooperative entrepreneurial ecosystem created around this territory, demonstrating how SR and innovation are important features related to competitiveness and success. Cooperatives are strategic business models able to foster development in traditional rural areas, so we can define them as an entrepreneurial ecosystem in smart territories.

Trust and Household Portfolios

2021 ◽  
pp. 78-97
Author(s):  
Diego Lubian
Keyword(s):  
Financial Markets ◽  
Empirical Evidence ◽  
Financial Literacy ◽  
Risky Assets ◽  
Financial Decisions ◽  
Portfolio Decisions ◽  
Financial Decision ◽  
Financial Portfolio ◽  
Socio Demographic Factors ◽  
The Relationship

This article provides empirical evidence on the existence and the extent of the influence of trust in financial decisions using individual data on Italian households from the Survey on Household Income and Wealth, 2010. This article studies the relationship between, trust in people, trust in banks and more detailed previously unexplored dimensions of trust, and household financial portfolio decisions. The article provides empirical evidence that trust in people and trust in banks affect both participation in financial markets, the share of risky assets and the diversification of the financial portfolio, controlling socio-demographic factors, risk aversion, and financial literacy as well. The article finds that trust is important for individuals with a lower level of education who have limited possibilities to acquire and process information on financial markets need to rely in trustworthy relationship to define their financial portfolio. Further, we present evidence that the main channel by which trust affects financial decision making and determines too little participation, a lower share of risky assets in the financial wealth and poorly diversified portfolios is trust in family and friends.

scholarly journals The Milky Way: summary and outlook

1985 ◽  
Vol 106 ◽  
pp. 635-639
Author(s):  
Jeremiah P. Ostriker
Keyword(s):  
Empirical Evidence ◽  
Milky Way ◽  
Oblate Spheroid ◽  
The Other ◽  
Human Thought ◽  
Conspicuous Feature ◽  
Other Hand ◽  
Absorption Of Light ◽  
The Galaxy ◽  
The One

First let me review the historical discussions presented during our symposium: the papers by Paul, Gingerich, Hoskin and Smith. I was greatly impressed by the power of abstract human thought in its confrontation with resistant reality. On the one hand we see again and again extraordinary prescience, where abstract beliefs based on little or no empirical evidence–like the island-universe hypothesis–turn out to be, in their essentials, true. Clearly, we often know more than we know that we know. On the other hand, there are repeated instances of resistance to the most obvious truth due to ingrained beliefs. These may be termed conspiracies of silence. Van Rhijn and Shapley agreed about few things. But one of them was that there was no significant absorption of light in the Galaxy. Yet the most conspicuous feature of the night sky is the Milky Way, and the second most conspicuous feature is the dark rift through its middle. What looks to the most untutored eye like a “sandwich” was modeled as an oblate spheroid. These eminent scientists must have known about the rift, but somehow wished it away in their analyses. I find that very curious. Other examples from earlier times abound. We all know that the Crab supernova was seen from many parts of the globe but, though it was bright enough to be detected by the unaided eye in daylight, its existence was never–so far as we know–recorded in Europe. It did not fit in with the scheme of things, so it was not seen.

scholarly journals Depth in 21st-Century Cells? European Salafi Jihadi Terrorism and Psychoanalysis in the Luciferian Age

2018 ◽  
Vol 21 (4) ◽  
pp. 592-614 ◽  
Author(s):  
Ronnie Lippens
Keyword(s):  
Social Welfare ◽  
Recent Work ◽  
Depth Psychology ◽  
21St Century ◽  
The Other ◽  
Cultural Imperialism ◽  
Psychoanalytic Interpretation ◽  
The One ◽  
Shed Light ◽  
Deep Sense

The psychoanalytic interpretation of Salafi jihadism and terrorism, or the application of psychoanalytic categories to said issues, are not very common. Indeed the mobilization of psychoanalysis in this context very often prompts accusations of orientalism and cultural imperialism. Both academic discourse and, to a lesser extent, policy, tend to “explain,” whether genuinely, strategically or tactically, or diplomatically, the emergence of “home-grown” Salafism by pointing to social, welfare, or educational deficits in the jihadists’ biographies. In this article we make an attempt to focus on psychoanalysis (or “depth psychology,” as it was sometimes called in a now-bygone age) to shed light on the phenomenon. Taking cues from Jan Hendrik van den Berg’s neo-Freudian and phenomenology-inspired critique of classical psychoanalysis on the one hand, and Peter Sloterdijk’s recent work on bastardy on the other, we offer a reading of European home-grown Salafi jihadist and terrorist inclination as reactions to failure, and as manifestations of a deep sense of inadequacy, in some of those who are unable to live up to what has become the predominant, imperative code in the cultural mainstream: to live one’s life in radical, complete, and total sovereignty, undetermined and in absolute omnipotence. This code, and the exigencies it imposes, we suggest, have become mainstream in the age which we have called Luciferian.

The Theoretical Potential of the Within-Nation Comparison: How Sub-National Analyses Can Enrich Our Understandings of the National Welfare State

2017 ◽  
Vol 61 (8) ◽  
pp. 861-886 ◽  
Author(s):  
Prerna Singh
Keyword(s):  
Welfare State ◽  
Social Welfare ◽  
Comparative Politics ◽  
National Level ◽  
The Other ◽  
Theory Building ◽  
National Welfare ◽  
Theory Generation ◽  
Cross Country ◽  
The One

This article seeks to showcase the previously underexplored theoretical potential of the recent “sub-national turn” in comparative politics. Specifically, I hope to delineate how theories derived to explain variation in an outcome across sub-national units can enrich our repertoire of theories to explain variation in the same and/or related outcomes across national units. I show the potential of this method of theory generation through an analysis of social welfare, a specially apposite outcome for this purpose because it has been studied rigorously at the both the national and sub-national levels of analyses. I argue that sub-national analyses can, on the one hand, help us refine and rethink national-level theories for the same outcomes. They can push us to nuance and extend established national theories and show us how the same variables and mechanisms that have been hypothesized to explain cross-country variations might work differently, even in opposite directions, within countries. On the other hand, sub-national analyses can push us past the established repertoire of national-level explanations to bring to light new (or forgotten) theories. In this way, this article seeks to challenge cross-country analyses as the exclusive domain of theory building in comparative politics.

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