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Economic anxiety, also referred to as economic insecurity, is the state of concern about the future of one's economic prospects, owing to low economic security.Economic anxiety can increase due to loss of household income or decreased purchasing power, causing affected individuals to self-report having more issues with societal structure and a lower quality of life. [1]
History. The STLFSI was first published in early 2010, with data going back to 1993, in an effort to better gauge levels of financial stress in the aftermath of the 2007-2008 financial crisis. It has been updated three times since, with the current version referred to as the STLFSI4.
Socioeconomic status (SES) is an economic and sociological combined total measure of a person's work experience and of an individual's or family's access to economic resources and social position in relation to others. [1][2] When analyzing a family's SES, the household income and the education and occupations of its members are examined ...
Data from the Economic Innovation Group's (EIG) Distressed Communities Index shows that as of 2023, local economies across America still hadn't fully recovered from the effects of the COVID-19 ...
Misery index (economics) The misery index is an economic indicator, created by economist Arthur Okun. The index helps determine how the average citizen is doing economically and is calculated by adding the seasonally adjusted unemployment rate to the annual inflation rate. It is assumed that both a higher rate of unemployment and a worsening of ...
A developing country is a sovereign state with a less developed industrial base and a lower Human Development Index (HDI) relative to other countries. [3] However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. [4][5] The terms low and middle-income country (LMIC) and newly ...
e. Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory. [1][2] Behavioral economics is primarily concerned with the bounds of rationality of economic agents.
The social causation theory is an older theory with more evidence and research behind it. [1] This hypothesis states that one's socioeconomic status (SES) is the cause of weakening mental functions. As Perry writes in The Journal of Primary Prevention, "members of the lower social classes experience excess psychological stress and relatively ...