Power, Intergroup Conflicts and Social Stratification in the United States: What has the Global Crisis Taught us?

Arestis, Philip; Charles, Aurélie; Fontana, Giuseppe

doi:10.1080/00346764.2015.1089109

Cited by 3 publications

(2 citation statements)

References 42 publications

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“…An economic shock such as the 2008 financial crisis is therefore expected to have moved people away from that setpoint, at least in the short-run. One of the reasons put forward which has led to the financial crisis is that, "keeping up with the Joneses" or imitation behaviour to enhance personal social status has helped to build up of the housing bubble in the US (Arestis et al 2015). This paper investigates the extent to which subjective well-being by group rather than individual has been affected by the housing bubble in the built-up towards the financial crisis and in the aftermath of the crisis.…”

Section: Introductionmentioning

confidence: 99%

Economic Shocks on Subjective Well-Being: Re-assessing the Determinants of Life-Satisfaction After the 2008 Financial Crisis

Charles

Wu²,

2018

J Happiness Stud

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The paper investigates the extent to which life-satisfaction is biased by peercomparison by looking at the relative value attached to the different domains of life-satisfaction, as suggested by Easterlin (Economics and happiness: framing the analysis, Oxford University Press, New York, 2005), by social group. We postulate that group membership influences the ranking of the satisfaction domains affecting subjective well-being which allows individuals to go back to their individual threshold over time. Using ordered probit models with random effects, the evidence for professional (self-employed vs. employee) and social (male vs. female) groups using the British Household Panel Survey and Understanding Society-UK Household Longitudinal Study from 1996 to 2014 shows that the ranking of the satisfaction domains is group-based suggesting a "keeping up with the Joneses" effect linked to the housing bubble.

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Section: Introductionmentioning

confidence: 99%

Economic Shocks on Subjective Well-Being: Re-assessing the Determinants of Life-Satisfaction After the 2008 Financial Crisis

Charles

Wu²,

2018

J Happiness Stud

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“…Yet this indicates that for a critically-minded social studies educator, the inclusion of economics has a vital function as part of a counter-hegemonic stance informed by a political clarity that recognizes the "sociopolitical and economic realities that shape lives and their capacity to transform such material and symbolic conditions" [37] (p. 98). Unfortunately, the discipline of economics provides limited support in extending economic analysis into the past [75][76][77], and rarely takes up social issues of race, class, and gender [84][85][86][87] that might be relevant to an active pursuit of justice as a citizen. Therefore, critically minded teachers, teacher educators, and preservice teachers should consider the temporal connections between their purposes for teaching and the way that economics functions within those purposes as part of a transformation based system of teacher preparation [88].…”

Section: The Utility Of Economics Within a Transformative Social Studmentioning

confidence: 99%

Economics (Only) Now: The Temporal Limitations of Economics as Part of a Critical Social Studies Pedagogy

Shanks

2019

Education Sciences

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This study speaks to the limited literature on economics way that preservice teachers in an urban teaching program conceptualize the function of economics within social studies. Utilizing case study methods and a theoretical framework that intersects critical pedagogy as part of a broader, critical, social studies pedagogy. Specifically, it seeks to understand the pedagogical tenets of social analysis with the idea of a counter-hegemonic stance, the study offers insight into the role of economics as part of a broadly critical social studies teacher education program. The results indicate that preservice teachers’ purpose for teaching social studies and the function of economics were aligned in the mission to critically analyze society. However, preservice teachers’ purposes for social studies extended beyond the function of economics into the past, and informed active citizenship for future action. These results show that economics can be a significant part of a social studies education practice that seeks to analyze society, understand the past, and take action for a better future. Unfortunately, limited familiarity and content knowledge inhibit a broader application of the function of economics. Social studies teacher education must purposefully integrate economics content into the exploration of the past and a discussion of future action for justice in order to combat prevailing content knowledge issues in preservice teachers and to help them reconcile their purpose for teaching social studies through economics.

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Towards post-Keynesian ecological macroeconomics

Fontana

Sawyer

2016

Ecological Economics

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104

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ABSTRACT:The paper starts with a brief criticism of macroeconomic analyses of different schools of thought for their focus on economic growth and maximisation of output. This applies to the traditional Keynesian approach, which has focused on the achievement of sufficient aggregate demand to underpin full employment and full capacity utilisation, down-playing aggregate supply constraints. This also applies to the neoclassical approach, including the current New Consensus Macroeconomics approach, which asserts the dominant role of aggregate supply in the long run, and where growth is set by the so-called 'natural rate of growth', with no concerns over environmental and ecological issues. The paper then proposes a different approach to macroeconomic analysis. It explicitly acknowledges that economic growth is a double-edged sword. Growth can help to alleviate persistent levels of high unemployment, but it can also lead to potentially catastrophic environmental problems. Building on the Monetary Circuit theory and the Demand-led growth theory, the paper offers an analysis of the interconnections and interdependence of the economic, biophysical and social worlds and by doing it hopes to provide the building blocks for the establishment of post-Keynesian ecological macroeconomics. Towards Post-Keynesian Ecological Macroeconomics ABSTRACT:The paper starts with a brief criticism of macroeconomic analyses of different schools of thought for their focus on economic growth and maximisation of output. This applies to the traditional Keynesian approach, which has focused on the achievement of sufficient aggregate demand to underpin full employment and full capacity utilisation, down-playing aggregate supply constraints. This also applies to the neoclassical approach, including the current New Consensus Macroeconomics approach, which asserts the dominant role of aggregate supply in the long run, and where growth is set by the so-called 'natural rate of growth', with no concerns over environmental and ecological issues. The paper then proposes a different approach to macroeconomic analysis. It explicitly acknowledges that economic growth is a double-edged sword. Growth can help to alleviate persistent levels of high unemployment, but it can also lead to potentially catastrophic environmental problems. Building on the Monetary Circuit theory and the Demand-led growth theory, the paper offers an analysis of the interconnections and interdependence of the economic, biophysical and social worlds and by doing it hopes to provide the building blocks for the establishment of post-Keynesian ecological macroeconomics.

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Power, Intergroup Conflicts and Social Stratification in the United States: What has the Global Crisis Taught us?

Cited by 3 publications

References 42 publications

Economic Shocks on Subjective Well-Being: Re-assessing the Determinants of Life-Satisfaction After the 2008 Financial Crisis

Economic Shocks on Subjective Well-Being: Re-assessing the Determinants of Life-Satisfaction After the 2008 Financial Crisis

Economics (Only) Now: The Temporal Limitations of Economics as Part of a Critical Social Studies Pedagogy

Towards post-Keynesian ecological macroeconomics

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