Stephens, Richard (2013) In times of recession, a population that is worried and uninformed on economic matters may help to prolong the financial misery. LSE American Politics and Policy (04 Nov 2013). Website.
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Abstract
In 2008, financial speculation on over-valued US housing stock was rife. When investors awoke to the extent of the debt, Lehman Brothers went bankrupt, credit evaporated and world economies began to shrink. The global financial crisis had begun. Richard Stephens examines the psychological effects of such bad news, and argues that the more people are worried about the economy, the less they spend, thus prolonging the recession. He suggests that part of the solution may be to encourage a citizenry that is better informed on economic matters and knowledgeable of their place in the recession economy.
| Item Type: | Online resource (Website) |
|---|---|
| Official URL: | http://blogs.lse.ac.uk/usappblog/2013/11/04/ |
| Additional Information: | © 2013 The Author |
| Divisions: | LSE |
| Subjects: | B Philosophy. Psychology. Religion > BF Psychology H Social Sciences > HC Economic History and Conditions H Social Sciences > HG Finance |
| Date Deposited: | 28 Jul 2014 11:52 |
| Last Modified: | 11 Dec 2024 13:21 |
| URI: | http://eprints.lse.ac.uk/id/eprint/58346 |
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