This article examines how the democratic political institutions of the president and the Congress interacted with private firms and regulatory agencies to contribute to the financial meltdown in 2008-09. This economic governance system failed to counteract the excessive optimism in the financial markets but rather contributed to and reinforced this development. Political moral hazard weakened i…
Chimerica" first appeared in the Anglo-American press in 2007, when it described an interconnected U.S. and Chinese economy in a neoliberal triumphalist tone just before the September 2008 Wall Street financial crisis. The term subsequently gained currency in the wider global English-language press as a particular way of understanding and solving this crisis, and as a means for discussing globa…
The Partnership for 21st Century Skills places an important emphasis on fundamental social science subjects including history, geography, government and civics, and economics as well as a stress on other important subjects such as English, foreign languages, arts, and science in the school curriculum. It has also identified what it calls 21st century themes, which include global awareness; fina…
Examined in this article arc relationships between six measures of economic stress--financial adequacy, perceived economic well-being, respondent's and partner's job instability, and respondent's and partner's job insecurity--and seven measures of individual and family well-being. Presented are descriptive and regression analyses of social survey data drawn from telephone interviews with 366 ho…
Abstract The paper considers how states and markets shape one another at the national and world-system levels and how globalization is transforming that relationship. This process is illustrated through a review of research on liberal, social rights, developmental, and socialist states in the postwar capitalist economy. These state models were reconciled with expanding international markets thr…
Using the Surveys of Consumers, we probe the effect of news exposure on assessments of economic conditions. The analysis employs a double-track strategy, combining cross-sectional and time-series designs. The findings show the following: (1) close to half of the American public typically admits not getting any economic news; (2) across time the aggregate opinion of "no-news" respondents closely…
The global outbreak of the COVID-19 epidemic has placed considerable financial constraints on people's lives, which may have changed their attitude toward advertising. This study explored the differential persuasiveness of attribute- versus goal-framed advertising on consumers with various financial constraints. The results of two studies (ns = 93 and 79, respectively) showed that consumers wit…
Decades of research has shown that economic considerations are strongly tied to evaluations of the president. Many studies have found that framing (often called priming) by news coverage, events, and presidential rhetoric can increase the weight of economic and other considerations in presidential evaluations. I use a survey experiment to show that attribution frames can decrease the weight of …
To social workers, extreme economic inequality is primarily a violation of social justice, but this article shows how growing economic inequality since the mid-1970s was not only unjust, but also dysfunctional to the U.S. economy and linked to the recent economic crisis with its devastating effects, particularly on the social work clientele. The article identifies interrelated changes in ideolo…
Abstract The "end of welfare as we know it" constitutes an important challenge for poverty research, shifting the focus away from once-dominant themes of dependency and toward the reality of widespread "working poverty." The literature reviewed in this chapter points in the direction of a reformulated research agenda, built around issues of inequality, political economy, and stratification by g…