The Economic Deterioration of the Family: Historical Contingencies Preceding the Great Recession

The "Great Recession" in the United States exposed contradictions between the economic well-being of families and capital that developed in the decades prior to this latest downturn. Using social structure of accumulation theory, a qualitative institutional analysis, and quantitative time-...

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Bibliographic Details
Published in:The American journal of economics and sociology 2013-04, Vol.72 (2), p.329-360
Main Author: Gillespie, Michael D.
Format: Article
Language:English
Subjects:
Accumulation
Capital
Capital accumulation
Contradictions
Debts
Economic Development
Economic growth
Economic Models
Economic Recession
Economic sociology
Expenditure
Families & family life
Family
General studies
Great Recession
Historical analysis
Qualitative analysis
Recession
Recessions
Social problems and social policy. Social work
Social Structure
Social Welfare
Sociology
Sociology of economy and development
Sociology of the family. Age groups
Standard of living. Income
Studies
U.S.A
United States of America
Welfare
Well Being
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Summary:The "Great Recession" in the United States exposed contradictions between the economic well-being of families and capital that developed in the decades prior to this latest downturn. Using social structure of accumulation theory, a qualitative institutional analysis, and quantitative time-series models, this article investigates historically contingent relations between the nature of public assistance, family economic deterioration, and capital accumulation. To sustain the circuit of capital, I argue that the family propped up economic growth first through public cash assistance and then through private expenditures, the latter of which lead to the economic deterioration of families dependent on unprecedented levels of debt.
ISSN:0002-9246
1536-7150
DOI:10.1111/ajes.12007