Katalog GES



Paradoxes of Social Rise: The Expansion of Middle Classes and the Financial Crisis

The article views the current financial crisis from the background of long term socio-economic changes in advanced industrial societies. Central points are the rise of middle classes, the accumulation of financial wealth in the upper strata of middle classes in combination with an increasing... Full description

1st Person: Deutschmann, Christoph
Source: in: Journal of Social Science Education (2010), Vol. 9 (1), p. 20-31
Type of Publication: Article
Published: 2010
Online: Abstract
Full text open access
Full text via publisher
  Search for full text
LEADER 02740naa a2200301uub4500
001 item_1232268
003 ZDB-97-MPR
005 20190321015731.142
008 20190321s2010 xx |||||o |00| ||eng |
024 7 |a 538735  |2 edoc 
100 1 |a Deutschmann, Christoph  |u Projekte von Gastwissenschaftlern und Postdoc-Stipendiaten, MPI for the Study of Societies, Max Planck Society; Institut für Soziologie, Universität Tübingen  |0 (eterms:CONE)/persons/resource/persons41159  |4 aut 
245 1 0 |a Paradoxes of Social Rise: The Expansion of Middle Classes and the Financial Crisis  |h [Online] 
260 |c 2010 
300 |a 12 p. 
506 0 |f Unrestricted online access  |2 star 
520 3 |a The article views the current financial crisis from the background of long term socio-economic changes in advanced industrial societies. Central points are the rise of middle classes, the accumulation of financial wealth in the upper strata of middle classes in combination with an increasing concentration of financial assets at the level of the top rich, and the advance of pension and investment funds as collective actors at financial markets. The paper analyses the interconnections between these developments in the framework of a multilevel model, culminating in the thesis of a collective “Buddenbrooks”-effect: a structural upward mobility of society will lead to an increasing imbalance at capital markets because a strongly rising volume of financial assets searching profitable investment opportunities will go parallel with a decline of the social reservoir of solvent entrepreneurial debtors. Therefore, advanced industrial economies are faced with chronic excess liquidity and export surpluses at capital markets, leading to the build-up of speculative bubbles and subsequent crashes. The author argues that the present crisis cannot be understood properly without taking account of these backgrounds. 
533 |n [Online] 
773 0 8 |i in:  |t Journal of Social Science Education  |d 2010  |g Vol. 9 (1), p. 20-31  |q 9:1<20-31  |x 1618-5293  |7 nnas 
773 0 8 |i in:  |t Financial Crisis I  |d 2010  |7 nnab 
856 4 |u http://www.jsse.org/2010/2010-1/deutschmann-jsse-1-2010  |z Abstract  |2 public  |3 abstract 
856 4 |q application/pdf  |s 1191269 bytes  |u https://pure.mpg.de/pubman/item/item_1232268_4/component/file_1835957/JSSE_9_2010_Deutschmann.pdf  |z Full text open access  |2 public  |3 fulltext 
856 4 |u http://www.jsse.org/2010/2010-1/pdf/Deutschmann-JSSE-1-2010.pdf  |z Full text via publisher  |2 public  |3 publisher-version 
887 |a ctx_1212570  |2 mpg.pure.context.id 
952 |d 9  |e 1  |g 12  |h 20-31  |j 2010 
952 |j 2010 
995 |a multiple_import  |a eDoc Migration Full 2011-11-25 13:29  |a journal article 
996 |a Zeitschriftenartikel 
997 |a article 

Similar Items

Cannot find similar records

Library Services

Search Options

Quick links

Orientation