Clare Bambra
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199588299
- eISBN:
- 9780191731372
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199588299.003.0005
- Subject:
- Public Health and Epidemiology, Public Health
This chapter examines the relationships between economic recessions, unemployment, and health. The chapter is divided into four main sections. The first section examines the effects of economic ...
More
This chapter examines the relationships between economic recessions, unemployment, and health. The chapter is divided into four main sections. The first section examines the effects of economic recessions on health. The second section summarizes the literature on the relationship between unemployment and health. The effects of recessions on health inequalities, as well as the importance of unemployment to health inequalities are then examined. Variation by welfare state in the health effects of recessions, as well as in the relationship between unemployment and health are then examined.Less
This chapter examines the relationships between economic recessions, unemployment, and health. The chapter is divided into four main sections. The first section examines the effects of economic recessions on health. The second section summarizes the literature on the relationship between unemployment and health. The effects of recessions on health inequalities, as well as the importance of unemployment to health inequalities are then examined. Variation by welfare state in the health effects of recessions, as well as in the relationship between unemployment and health are then examined.
Maurice Wright
- Published in print:
- 2002
- Published Online:
- October 2011
- ISBN:
- 9780199250530
- eISBN:
- 9780191697937
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199250530.003.0003
- Subject:
- Political Science, Political Economy
This chapter provides a general overview of the evolution of Japan's political economy and signals some of the main changes from the emergence of the fiscal crisis in fiscal year 1975 to the ...
More
This chapter provides a general overview of the evolution of Japan's political economy and signals some of the main changes from the emergence of the fiscal crisis in fiscal year 1975 to the beginning of the new millennium. It examines the formal and informal budget institutions, the processes and policies with which the Ministry of Finance and successive Liberal Democratic Party (LDP) governments responded to that crisis, and the conditions of continuing fiscal stress in the following two decades. It begins with the broad outline of the main economic trends: in summary, a period that began with the recognition of fiscal crisis, followed by years of proclaimed fiscal austerity in the early 1980s. The main trends in the political system are also discussed, focusing particularly on the role and significance of the LDP, along with the interdependence of the economy and the polity.Less
This chapter provides a general overview of the evolution of Japan's political economy and signals some of the main changes from the emergence of the fiscal crisis in fiscal year 1975 to the beginning of the new millennium. It examines the formal and informal budget institutions, the processes and policies with which the Ministry of Finance and successive Liberal Democratic Party (LDP) governments responded to that crisis, and the conditions of continuing fiscal stress in the following two decades. It begins with the broad outline of the main economic trends: in summary, a period that began with the recognition of fiscal crisis, followed by years of proclaimed fiscal austerity in the early 1980s. The main trends in the political system are also discussed, focusing particularly on the role and significance of the LDP, along with the interdependence of the economy and the polity.
Nancy Bermeo and Larry M. Bartels (eds)
- Published in print:
- 2014
- Published Online:
- April 2014
- ISBN:
- 9780199357505
- eISBN:
- 9780199357536
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199357505.003.0001
- Subject:
- Political Science, Comparative Politics
This chapter surveys how ordinary people reacted to the Great Recession. It introduces and elaborates on three themes emerging from the ten original essays that follow. First, voters were very likely ...
More
This chapter surveys how ordinary people reacted to the Great Recession. It introduces and elaborates on three themes emerging from the ten original essays that follow. First, voters were very likely to punish whatever party was ruling at the time of the recession, regardless of its ideology. No single ideological grouping including extremists has benefitted consistently from the Great Recession so far. Second, citizens were surprisingly unlikely to change their opinions during the crisis. Opinions on issues ranging from the Euro, to immigration, to redistribution remained surprisingly stable. Finally, with few exceptions, the Great Recession did not produce a wave of intense protest against poor economic performance. Mobilizations were generally focused on austerity packages and corruption rather than the recession per se.Less
This chapter surveys how ordinary people reacted to the Great Recession. It introduces and elaborates on three themes emerging from the ten original essays that follow. First, voters were very likely to punish whatever party was ruling at the time of the recession, regardless of its ideology. No single ideological grouping including extremists has benefitted consistently from the Great Recession so far. Second, citizens were surprisingly unlikely to change their opinions during the crisis. Opinions on issues ranging from the Euro, to immigration, to redistribution remained surprisingly stable. Finally, with few exceptions, the Great Recession did not produce a wave of intense protest against poor economic performance. Mobilizations were generally focused on austerity packages and corruption rather than the recession per se.
Josh Bivens and Lawrence Mishel
- Published in print:
- 2011
- Published Online:
- August 2016
- ISBN:
- 9780801450150
- eISBN:
- 9780801460654
- Item type:
- chapter
- Publisher:
- Cornell University Press
- DOI:
- 10.7591/cornell/9780801450150.003.0001
- Subject:
- Economics and Finance, Public and Welfare
This introductory chapter argues that the consequences of the Great Recession are driven by social and political choices about how the economy is managed. It was not inevitable that the significant ...
More
This introductory chapter argues that the consequences of the Great Recession are driven by social and political choices about how the economy is managed. It was not inevitable that the significant run-up in home prices that began in the late 1990s would end with more than eight million Americans losing their jobs and unemployment hitting a twenty-five-year peak. The chapter argues against ascribing the impact of the Great Recession to mere fate, instead it draws comparisons between the shockwaves generated by the economic recession and that of another recent catastrophe—Hurricane Katrina—thus highlighting crucial choices made during and after the aforementioned disasters struck.Less
This introductory chapter argues that the consequences of the Great Recession are driven by social and political choices about how the economy is managed. It was not inevitable that the significant run-up in home prices that began in the late 1990s would end with more than eight million Americans losing their jobs and unemployment hitting a twenty-five-year peak. The chapter argues against ascribing the impact of the Great Recession to mere fate, instead it draws comparisons between the shockwaves generated by the economic recession and that of another recent catastrophe—Hurricane Katrina—thus highlighting crucial choices made during and after the aforementioned disasters struck.
Rebecca M. Blank
- Published in print:
- 2011
- Published Online:
- March 2012
- ISBN:
- 9780520266926
- eISBN:
- 9780520938960
- Item type:
- chapter
- Publisher:
- University of California Press
- DOI:
- 10.1525/california/9780520266926.003.0008
- Subject:
- Sociology, Race and Ethnicity
This chapter focuses explicitly on the current economic environment in the United States. It discusses possible ways in which the major economic shock caused by the recently experienced global ...
More
This chapter focuses explicitly on the current economic environment in the United States. It discusses possible ways in which the major economic shock caused by the recently experienced global economic recession might influence long-term trends in inequality. It notes that the most likely outcome is that the current trends will persist and that the forces that have been driving increased inequality over the past three decades will continue to operate. It adds that there are possible economic and political changes that may emerge from a deep and sustained recession that could alter the recent trend toward increased inequality and equalize incomes in the years ahead.Less
This chapter focuses explicitly on the current economic environment in the United States. It discusses possible ways in which the major economic shock caused by the recently experienced global economic recession might influence long-term trends in inequality. It notes that the most likely outcome is that the current trends will persist and that the forces that have been driving increased inequality over the past three decades will continue to operate. It adds that there are possible economic and political changes that may emerge from a deep and sustained recession that could alter the recent trend toward increased inequality and equalize incomes in the years ahead.
Michael Dennis
- Published in print:
- 2009
- Published Online:
- September 2011
- ISBN:
- 9780813032917
- eISBN:
- 9780813038407
- Item type:
- chapter
- Publisher:
- University Press of Florida
- DOI:
- 10.5744/florida/9780813032917.003.0003
- Subject:
- History, American History: 20th Century
The dominant reality for office workers from Richmond to Roanoke was insecurity. The possibility of being laid off or simply eliminated as a result of corporate restructuring burrowed deeply into the ...
More
The dominant reality for office workers from Richmond to Roanoke was insecurity. The possibility of being laid off or simply eliminated as a result of corporate restructuring burrowed deeply into the subconscious of Virginia's workers in the new Gilded Age. It created an atmosphere of profound social anxiety, one that was no less intense because it happened in Virginia. There was nothing peculiarly southern about the economic forces that were transforming career-minded people into temporary, part-time, and contract workers. What happened to middle managers, secretaries, salespeople, and manufacturing supervisors in Virginia happened to those in Michigan, Ohio, and New York. The economic uncertainties of the new era bound the regions together in a collective experience of reduced hopes, limited expectations, and persistent fears. Yet the recession of 1990/1991 generated a depth of anguish in Virginia that set it apart from its southern counterparts.Less
The dominant reality for office workers from Richmond to Roanoke was insecurity. The possibility of being laid off or simply eliminated as a result of corporate restructuring burrowed deeply into the subconscious of Virginia's workers in the new Gilded Age. It created an atmosphere of profound social anxiety, one that was no less intense because it happened in Virginia. There was nothing peculiarly southern about the economic forces that were transforming career-minded people into temporary, part-time, and contract workers. What happened to middle managers, secretaries, salespeople, and manufacturing supervisors in Virginia happened to those in Michigan, Ohio, and New York. The economic uncertainties of the new era bound the regions together in a collective experience of reduced hopes, limited expectations, and persistent fears. Yet the recession of 1990/1991 generated a depth of anguish in Virginia that set it apart from its southern counterparts.
Keiran Walsh, Gemma M. Carney, and Áine Ní Léime (eds)
- Published in print:
- 2015
- Published Online:
- September 2015
- ISBN:
- 9781447316237
- eISBN:
- 9781447316244
- Item type:
- book
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781447316237.001.0001
- Subject:
- Sociology, Gerontology and Ageing
Demographic ageing is identified as a global challenge with significant social policy implications across local, national and international contexts. The 2008 economic crisis and related austerity ...
More
Demographic ageing is identified as a global challenge with significant social policy implications across local, national and international contexts. The 2008 economic crisis and related austerity policies further compound and complicate this challenge. Social policy pressures characterising ageing societies increasingly need to be understood within the context of the economic recession and the evolving circumstances of austerity. Yet, the extent to which the global economic crisis intensifies problems experienced in later life has been largely neglected as a research and policy topic. This book addresses this deficit by using Ireland as a site for unpacking social policy issues in ageing through austerity. The book interrogates whether or not the economic recession and austerity has in fact altered ageing experiences for older people in Ireland. A selection of internationally recognised policy issues for ageing societies are explored; demography; citizenship; participation and volunteering; work, gender and pensions; age-friendly communities and place; dementia care; and social exclusion. The book presents a critical analysis to contextualise and elaborate on international debates around these issues within the Irish austerity setting, and to identify future directions for research and policy that are relevant beyond Ireland. A central goal of contributors is to demonstrate linkages between the global, national and local levels that shape the experiences of ageing in a time of austerity. The emphasis, however, is as much on the capacity of the local to shape and manipulate global influence and forces, as it is about the power of globalisation over national and community contexts.Less
Demographic ageing is identified as a global challenge with significant social policy implications across local, national and international contexts. The 2008 economic crisis and related austerity policies further compound and complicate this challenge. Social policy pressures characterising ageing societies increasingly need to be understood within the context of the economic recession and the evolving circumstances of austerity. Yet, the extent to which the global economic crisis intensifies problems experienced in later life has been largely neglected as a research and policy topic. This book addresses this deficit by using Ireland as a site for unpacking social policy issues in ageing through austerity. The book interrogates whether or not the economic recession and austerity has in fact altered ageing experiences for older people in Ireland. A selection of internationally recognised policy issues for ageing societies are explored; demography; citizenship; participation and volunteering; work, gender and pensions; age-friendly communities and place; dementia care; and social exclusion. The book presents a critical analysis to contextualise and elaborate on international debates around these issues within the Irish austerity setting, and to identify future directions for research and policy that are relevant beyond Ireland. A central goal of contributors is to demonstrate linkages between the global, national and local levels that shape the experiences of ageing in a time of austerity. The emphasis, however, is as much on the capacity of the local to shape and manipulate global influence and forces, as it is about the power of globalisation over national and community contexts.
Markus Jäntti, Pekka Martikainen, and Tapani Valkonen
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780198297413
- eISBN:
- 9780191685347
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198297413.003.0015
- Subject:
- Economics and Finance, Development, Growth, and Environmental
During the 1990's Finland experienced a great economic recession which lasted until 1997. As a result unemployment rate in Finland rose to 17 percent in 1997 from 3.4 percent in 1990. However, due to ...
More
During the 1990's Finland experienced a great economic recession which lasted until 1997. As a result unemployment rate in Finland rose to 17 percent in 1997 from 3.4 percent in 1990. However, due to the stable income distribution within the Finnish society, health and social services for the unemployed were not compromised. This chapter deals with the relationship of unemployment and mortality rate in this country. In studying the said relation between the two variables, two things must be kept in mind: first, unemployment contributes to higher mortality rate due to psychosocial stress and that people who can be included in the mortality rate are among those who are not likely to be employed. The study uses data gathered at the municipal level.Less
During the 1990's Finland experienced a great economic recession which lasted until 1997. As a result unemployment rate in Finland rose to 17 percent in 1997 from 3.4 percent in 1990. However, due to the stable income distribution within the Finnish society, health and social services for the unemployed were not compromised. This chapter deals with the relationship of unemployment and mortality rate in this country. In studying the said relation between the two variables, two things must be kept in mind: first, unemployment contributes to higher mortality rate due to psychosocial stress and that people who can be included in the mortality rate are among those who are not likely to be employed. The study uses data gathered at the municipal level.
Tom Scott
- Published in print:
- 1998
- Published Online:
- October 2011
- ISBN:
- 9780198206446
- eISBN:
- 9780191677120
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198206446.003.0011
- Subject:
- History, European Early Modern History, Economic History
Strasbourg, the regional metropolis of the Upper Rhine, was severely shaken by the collapse in 1559 of the French financial consortium, the Grand Parti, in which its merchants had invested heavily. ...
More
Strasbourg, the regional metropolis of the Upper Rhine, was severely shaken by the collapse in 1559 of the French financial consortium, the Grand Parti, in which its merchants had invested heavily. In its wake many of Strasbourg's merchant families tumbled into bankruptcy in a domino effect over the next two decades, at a time when the city's wine trade was also being exposed to the winds of competition. In the case of Switzerland, the downturn can be measured by the decrease in toll receipts from the 1560s in places such as Schaffhausen, Lucerne, or Olten, with textile manufacturing languishing at the same time in major centres such as Zürich and St. Gallen. To the economic recession of the later sixteenth century were soon to be added the calamities of the Thirty Years War. This chapter investigates whether the decline in the economic vitality of the Upper Rhine during the sixteenth century can be attributed to a waning sense of regional economic solidarity.Less
Strasbourg, the regional metropolis of the Upper Rhine, was severely shaken by the collapse in 1559 of the French financial consortium, the Grand Parti, in which its merchants had invested heavily. In its wake many of Strasbourg's merchant families tumbled into bankruptcy in a domino effect over the next two decades, at a time when the city's wine trade was also being exposed to the winds of competition. In the case of Switzerland, the downturn can be measured by the decrease in toll receipts from the 1560s in places such as Schaffhausen, Lucerne, or Olten, with textile manufacturing languishing at the same time in major centres such as Zürich and St. Gallen. To the economic recession of the later sixteenth century were soon to be added the calamities of the Thirty Years War. This chapter investigates whether the decline in the economic vitality of the Upper Rhine during the sixteenth century can be attributed to a waning sense of regional economic solidarity.
Don Harding and Adrian Pagan
- Published in print:
- 2016
- Published Online:
- January 2018
- ISBN:
- 9780691167084
- eISBN:
- 9781400880935
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691167084.003.0009
- Subject:
- Economics and Finance, Econometrics
This chapter argues that the problems in predicting recessions stem from the nature of the definition of a recession. Much of the literature that claims success does not predict recessions as such. ...
More
This chapter argues that the problems in predicting recessions stem from the nature of the definition of a recession. Much of the literature that claims success does not predict recessions as such. Rather it focuses on either whether one can predict growth in economic activity or whether one can identify the current status of the economy—what is often referred to as “nowcasting” rather than forecasting. The chapter reviews the literature on predicting recessions. The review leads to the conclusion that there are good reasons it is extremely difficult to predict recessions. Understanding these leads to an appreciation of the barriers to be faced in the task, and also suggests that many of the claims made about how the forecasting record can be improved should be treated with skepticism.Less
This chapter argues that the problems in predicting recessions stem from the nature of the definition of a recession. Much of the literature that claims success does not predict recessions as such. Rather it focuses on either whether one can predict growth in economic activity or whether one can identify the current status of the economy—what is often referred to as “nowcasting” rather than forecasting. The chapter reviews the literature on predicting recessions. The review leads to the conclusion that there are good reasons it is extremely difficult to predict recessions. Understanding these leads to an appreciation of the barriers to be faced in the task, and also suggests that many of the claims made about how the forecasting record can be improved should be treated with skepticism.
Christopher J. Anderson and Jason D. Hecht
- Published in print:
- 2014
- Published Online:
- April 2014
- ISBN:
- 9780199357505
- eISBN:
- 9780199357536
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199357505.003.0002
- Subject:
- Political Science, Comparative Politics
This chapter examines the dynamics of public opinion about the economy before, during, and after the Great Recession of 2008 across 11 European countries. Specifically, using monthly public opinion ...
More
This chapter examines the dynamics of public opinion about the economy before, during, and after the Great Recession of 2008 across 11 European countries. Specifically, using monthly public opinion data, the chapter describes the nature of opinion change resulting from turmoil in the global economy and investigates whether the nature of the change and opinion were shaped by macro-level political and economic factors, including the size of welfare states.Less
This chapter examines the dynamics of public opinion about the economy before, during, and after the Great Recession of 2008 across 11 European countries. Specifically, using monthly public opinion data, the chapter describes the nature of opinion change resulting from turmoil in the global economy and investigates whether the nature of the change and opinion were shaped by macro-level political and economic factors, including the size of welfare states.
Larry Bartels and Nancy Bermeo (eds)
- Published in print:
- 2014
- Published Online:
- April 2014
- ISBN:
- 9780199357505
- eISBN:
- 9780199357536
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199357505.001.0001
- Subject:
- Political Science, Comparative Politics
This book reveals how ordinary people in rich democracies responded to the Great Recession. Through cross-national statistical work and detailed case comparison, it surveys how the economic crisis ...
More
This book reveals how ordinary people in rich democracies responded to the Great Recession. Through cross-national statistical work and detailed case comparison, it surveys how the economic crisis affected elections, public opinion and protest behaviour between 2008 and 2011. It shows that incumbents were generally punished harshly at the polls regardless of whether they were of the left or right, yet it also reveals that citizens reacted to the recession with surprising moderation in other realms of mass politics. Public opinion on redistribution, immigration, extremist parties, and the Euro remained more stable than anticipated and popular mobilizations were, with few exceptions, short-lived. The mobilizations that did occur were overwhelmingly associated with austerity programs and not the recession itself.Less
This book reveals how ordinary people in rich democracies responded to the Great Recession. Through cross-national statistical work and detailed case comparison, it surveys how the economic crisis affected elections, public opinion and protest behaviour between 2008 and 2011. It shows that incumbents were generally punished harshly at the polls regardless of whether they were of the left or right, yet it also reveals that citizens reacted to the recession with surprising moderation in other realms of mass politics. Public opinion on redistribution, immigration, extremist parties, and the Euro remained more stable than anticipated and popular mobilizations were, with few exceptions, short-lived. The mobilizations that did occur were overwhelmingly associated with austerity programs and not the recession itself.
Michael Schaller
- Published in print:
- 1995
- Published Online:
- October 2011
- ISBN:
- 9780195090499
- eISBN:
- 9780199854196
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195090499.003.0002
- Subject:
- History, American History: 20th Century
This chapter examines the accomplishments of Ronald Reagan as president of the U.S. from 1981 to 1989. During his term, Reagan challenged many and reversed some of the liberal programs that dominated ...
More
This chapter examines the accomplishments of Ronald Reagan as president of the U.S. from 1981 to 1989. During his term, Reagan challenged many and reversed some of the liberal programs that dominated the federal governments since the New Deal. Reagan reduced federal tax rates by a total of 25 percent over three years, increased defense spending, managed to reverse the negative effects of the economic recession and increased minimum wages.Less
This chapter examines the accomplishments of Ronald Reagan as president of the U.S. from 1981 to 1989. During his term, Reagan challenged many and reversed some of the liberal programs that dominated the federal governments since the New Deal. Reagan reduced federal tax rates by a total of 25 percent over three years, increased defense spending, managed to reverse the negative effects of the economic recession and increased minimum wages.
Larry M. Bartels
- Published in print:
- 2014
- Published Online:
- April 2014
- ISBN:
- 9780199357505
- eISBN:
- 9780199357536
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199357505.003.0007
- Subject:
- Political Science, Comparative Politics
This chapter offers a statistical analysis of 42 elections in 28 OECD countries from 2007 through 2011. The results demonstrate that citizens reward or punish incumbent governments based on economic ...
More
This chapter offers a statistical analysis of 42 elections in 28 OECD countries from 2007 through 2011. The results demonstrate that citizens reward or punish incumbent governments based on economic growth in the year or two preceding each election. This effect was substantial, with differences in expected vote shares of 24 percentage points over the observed range of GDP growth, and with little or no apparent regard for global economic conditions. Once economic voting is taken into account, there is little evidence of any consistent ideological shift to the left or the right in OECD electorates, or of differential evaluation of economic conditions under left- or right-wing governments.Less
This chapter offers a statistical analysis of 42 elections in 28 OECD countries from 2007 through 2011. The results demonstrate that citizens reward or punish incumbent governments based on economic growth in the year or two preceding each election. This effect was substantial, with differences in expected vote shares of 24 percentage points over the observed range of GDP growth, and with little or no apparent regard for global economic conditions. Once economic voting is taken into account, there is little evidence of any consistent ideological shift to the left or the right in OECD electorates, or of differential evaluation of economic conditions under left- or right-wing governments.
Heikki Hiilamo
- Published in print:
- 2006
- Published Online:
- March 2012
- ISBN:
- 9781861346452
- eISBN:
- 9781447303015
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781861346452.003.0008
- Subject:
- Sociology, Marriage and the Family
This chapter uses the economic recession and recovery as a strategic case for studying the sustainability of the gender equality ambition of Finland and Sweden. The analysis presented in this chapter ...
More
This chapter uses the economic recession and recovery as a strategic case for studying the sustainability of the gender equality ambition of Finland and Sweden. The analysis presented in this chapter is focused on the implications of family and parenthood policy reform, in terms of economic gender equality of the implication for women's economic autonomy. It also deals with the policy developments during the 1990s, and considers changes in the allocation of income transfers.Less
This chapter uses the economic recession and recovery as a strategic case for studying the sustainability of the gender equality ambition of Finland and Sweden. The analysis presented in this chapter is focused on the implications of family and parenthood policy reform, in terms of economic gender equality of the implication for women's economic autonomy. It also deals with the policy developments during the 1990s, and considers changes in the allocation of income transfers.
Jordi Canals
- Published in print:
- 1997
- Published Online:
- October 2011
- ISBN:
- 9780198775065
- eISBN:
- 9780191695353
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198775065.003.0008
- Subject:
- Business and Management, Finance, Accounting, and Banking, Strategy
This chapter discusses the Spanish financial model. One cannot understand the involvement of banks in financing non-financial companies in Spain in the 1980s and 1990s without discussing two ...
More
This chapter discusses the Spanish financial model. One cannot understand the involvement of banks in financing non-financial companies in Spain in the 1980s and 1990s without discussing two conditions that determine the framework within which the bank system operates in Spain: heightened competition within the industry and a situation of economic recession until 1984 and later between 1991 and 1993.Less
This chapter discusses the Spanish financial model. One cannot understand the involvement of banks in financing non-financial companies in Spain in the 1980s and 1990s without discussing two conditions that determine the framework within which the bank system operates in Spain: heightened competition within the industry and a situation of economic recession until 1984 and later between 1991 and 1993.
Kieran Walsh, Gemma M. Carney, and Áine Ní Léime
- Published in print:
- 2015
- Published Online:
- September 2015
- ISBN:
- 9781447316237
- eISBN:
- 9781447316244
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781447316237.003.0001
- Subject:
- Sociology, Gerontology and Ageing
This chapter establishes the key arguments for this book, locating the text amidst significant knowledge gaps concerning the intersection of ageing, social policy and austerity. The chapter proposes ...
More
This chapter establishes the key arguments for this book, locating the text amidst significant knowledge gaps concerning the intersection of ageing, social policy and austerity. The chapter proposes Ireland as a unique and valuable case-study for the analysis, presenting in brief some of the conflicting and contrasting patterns arising from growing older during a time of economic recession and austerity driven social policy. The chapter presents the book’s critical gerontology approach. It describes the context of austerity in Ireland, charting the nation’s transition from unprecedented economic growth, to severe economic recession to, perhaps again, economic recovery. The chapter positions Ireland, and its economic crisis, in the global political economy and provides a critical overview of the historical evolution of ageing-related social policy in Ireland. The chapter ends by outlining the structure of the book and the contributions from each of the authors.Less
This chapter establishes the key arguments for this book, locating the text amidst significant knowledge gaps concerning the intersection of ageing, social policy and austerity. The chapter proposes Ireland as a unique and valuable case-study for the analysis, presenting in brief some of the conflicting and contrasting patterns arising from growing older during a time of economic recession and austerity driven social policy. The chapter presents the book’s critical gerontology approach. It describes the context of austerity in Ireland, charting the nation’s transition from unprecedented economic growth, to severe economic recession to, perhaps again, economic recovery. The chapter positions Ireland, and its economic crisis, in the global political economy and provides a critical overview of the historical evolution of ageing-related social policy in Ireland. The chapter ends by outlining the structure of the book and the contributions from each of the authors.
Judith Stein
- Published in print:
- 2014
- Published Online:
- April 2017
- ISBN:
- 9780252038174
- eISBN:
- 9780252095979
- Item type:
- chapter
- Publisher:
- University of Illinois Press
- DOI:
- 10.5406/illinois/9780252038174.003.0008
- Subject:
- Sociology, Social Stratification, Inequality, and Mobility
This chapter examines the political economy created by politicians and business leaders in the 1970s and its links to the Great Recession. It argues that the economies of the 1970s and the ...
More
This chapter examines the political economy created by politicians and business leaders in the 1970s and its links to the Great Recession. It argues that the economies of the 1970s and the contemporary world are global. Both contained imbalances among the major trading nations that led to recession. In the 1970s, the most important change that affected workers in the public and private sectors was that the long period of postwar economic growth ended between 1973 and 1975. In the United States, as classic Keynesianism employing macroeconomic techniques and free trade faltered, the labor movement proposed microeconomic industrial policy to address the crisis. A reformed Democratic party, less responsive to labor, was uninterested. Unable to govern effectively, in 1980 Democrats yielded power to a Republican party that promised to restore prosperity. President Ronald Reagan's policies did bring back growth, but they also altered the postwar mixed economy, privileging capital and sacrificing manufacturing for the chimera of high technology, finance, and real estate. This sectoral shift profoundly changed the size and composition of the labor movement. The distortions produced by this recomposition of the economy also led in time to the Great Recession.Less
This chapter examines the political economy created by politicians and business leaders in the 1970s and its links to the Great Recession. It argues that the economies of the 1970s and the contemporary world are global. Both contained imbalances among the major trading nations that led to recession. In the 1970s, the most important change that affected workers in the public and private sectors was that the long period of postwar economic growth ended between 1973 and 1975. In the United States, as classic Keynesianism employing macroeconomic techniques and free trade faltered, the labor movement proposed microeconomic industrial policy to address the crisis. A reformed Democratic party, less responsive to labor, was uninterested. Unable to govern effectively, in 1980 Democrats yielded power to a Republican party that promised to restore prosperity. President Ronald Reagan's policies did bring back growth, but they also altered the postwar mixed economy, privileging capital and sacrificing manufacturing for the chimera of high technology, finance, and real estate. This sectoral shift profoundly changed the size and composition of the labor movement. The distortions produced by this recomposition of the economy also led in time to the Great Recession.
Doug Rossinow
- Published in print:
- 2015
- Published Online:
- November 2015
- ISBN:
- 9780231169882
- eISBN:
- 9780231538657
- Item type:
- chapter
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231169882.003.0005
- Subject:
- History, American History: 20th Century
This chapter focuses on the recession of 1981–1982. The recession was a watershed in America’s social history. High interest rates and a strong U.S. dollar devastated the economy’s manufacturing ...
More
This chapter focuses on the recession of 1981–1982. The recession was a watershed in America’s social history. High interest rates and a strong U.S. dollar devastated the economy’s manufacturing sector. In 1982, the unemployment rate reached 10% for the first time since the Great Depression of the 1930s. The irony of the Reagan recession was profound. Reagan had castigated Jimmy Carter in 1980 for telling Americans they were living too well. Yet this was exactly what Reagan thought about many Americans. When he spoke of the purge that would have to follow the “binge” of high living and big spending that supposedly had occurred during the years of liberal ascendancy, he did not mean that everyone had lived too well or that all need suffer. Reagan subscribed to the classically conservative view that if the poor and the working class lived too well, inflation would run riot. Generous government spending on the poor worsened the problem. He also believed that what was good for creditors and investors in the short term would strengthen the economy in the long term and thus benefit all social classes.Less
This chapter focuses on the recession of 1981–1982. The recession was a watershed in America’s social history. High interest rates and a strong U.S. dollar devastated the economy’s manufacturing sector. In 1982, the unemployment rate reached 10% for the first time since the Great Depression of the 1930s. The irony of the Reagan recession was profound. Reagan had castigated Jimmy Carter in 1980 for telling Americans they were living too well. Yet this was exactly what Reagan thought about many Americans. When he spoke of the purge that would have to follow the “binge” of high living and big spending that supposedly had occurred during the years of liberal ascendancy, he did not mean that everyone had lived too well or that all need suffer. Reagan subscribed to the classically conservative view that if the poor and the working class lived too well, inflation would run riot. Generous government spending on the poor worsened the problem. He also believed that what was good for creditors and investors in the short term would strengthen the economy in the long term and thus benefit all social classes.
Raimond Maurer, Olivia S. Mitchell, and Mark J. Warshawsky (eds)
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199660698
- eISBN:
- 9780191745058
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199660698.001.0001
- Subject:
- Business and Management, Pensions and Pension Management
The worldwide financial crisis has wrought deep changes in capital and labor markets, old-age retirement systems, and household retirement and consumption patterns. Around the world, plan sponsors, ...
More
The worldwide financial crisis has wrought deep changes in capital and labor markets, old-age retirement systems, and household retirement and consumption patterns. Around the world, plan sponsors, fiduciaries, policymakers, and households have gained a new awareness of retirement risk. When pressed to reform postcrisis, many would recommend enhancing financial advice for plan participants, emphasizing flexibility and the positive effect of working another one or two years to make up for investment losses in the downturn. Adding to this is the continuing need for financial education, essential as the retirement system moves increasingly toward personal account pensions. But perhaps most important of all is the need for greater understanding of risk throughout the retirement security system, along with new approaches to reengineering retirement pensions.Less
The worldwide financial crisis has wrought deep changes in capital and labor markets, old-age retirement systems, and household retirement and consumption patterns. Around the world, plan sponsors, fiduciaries, policymakers, and households have gained a new awareness of retirement risk. When pressed to reform postcrisis, many would recommend enhancing financial advice for plan participants, emphasizing flexibility and the positive effect of working another one or two years to make up for investment losses in the downturn. Adding to this is the continuing need for financial education, essential as the retirement system moves increasingly toward personal account pensions. But perhaps most important of all is the need for greater understanding of risk throughout the retirement security system, along with new approaches to reengineering retirement pensions.
