No place called home: the causes and social consequences of the UK housing ‘bubble’

This paper examines the key causes and social consequences of the much debated UK ‘housing bubble’ and its aftermath from a multidimensional sociological approach, as opposed to the economic perspective of many popular discussions. This is a phenomenon that has affected numerous economies in the first decade of the new millennium. The discussion is based on a comprehensive study that includes exhaustive analysis of secondary data, content and debate in the mass media and academia, primary data gathered from the monitoring of weblogs and forums debating housing issues, and case histories of individuals experiencing housing difficulties during this period. This paper is intended to provide a broad overview of the key findings and preliminary analysis of this ongoing study, and is informed by a perspective which considers secure and affordable housing to be an essential foundation of stable and cohesive societies, with its absence contributing to a range of social ills that negatively impact on both individual and collective well being. Overall, it is argued that we must return to viewing decent, affordable housing as an essential social resource, that provides the bedrock of stable individual, family and community life, while recognizing that its increasing treatment as a purely economic asset is a key contributor to our so‐called ‘broken society’.     

Are Groups More (or Less) Consistent Than Individuals?

There is now overwhelming experimental evidence that individuals systematically violate the axioms of Expected Utility theory. In reality, however, many economic decisions are taken by, or on behalf of, groups whose members have a joint stake in those decisions. This paper reports on an experiment in which pairs of individuals are tested for Common-Ratio inconsistencies. We find that the agreed choices of subject-pairs follow a pattern of inconsistency very close to that of individuals' choices. We also look for evidence that group participation increases the consistency of the individuals themselves. With one solitary exception, we find none.     

A Simple Risk-Sharing Experiment

This paper reports on an experiment designed to test whether pairs of individuals are able to exploit ex ante efficiency gains in the sharing of a risky financial prospect. Observations from a previous experiment had suggested a general rejection of efficiency in favour of ex post equality. The present experiment explores some possible explanations for this. The results indicate that fairness is not a significant consideration, but rather that having to choose between prospects diverts partners from allocating the chosen prospect efficiently.     

The nature of structure: a biosocial approach

This paper considers how developments within the neurosciences might be applied to advance sociologists’ (and other social scientists’) understanding of social selves and social processes and, importantly, why this might be a fruitful pursuit despite some residual reservations within the discipline. With respect to the latter, the argument presented is firstly approached by briefly reflecting upon sociologists’ lingering reticence with respect to engagement with biology, albeit that there has been some softening of this position over the last decade or so. This piece asserts that overcoming remaining sociological reservations regarding the biological offers considerable potential, in terms of enhancing our theoretical models and understanding of aspects of the social world, potentially offering fresh insights with respect to some perennial issues and concepts. Here, an example of this potential is offered through a neurosociological reframing of the foundations of social structure and the rationalization of conduct.     

No one is listening: Members of the Deaf community share their depression narratives

This exploratory case study conducted in Manitoba, Canada examined a unique social justice issue in the field of mental health, namely, how Deaf adults, all American Sign Language first-language users who were diagnosed with Depression, manage their symptoms in a mental health system that is based on spoken, not signed communication. Using in-depth individual interviews, and a hand-drawn Person and Environment Map, this study offers rich in-depth narratives of the experiences and challenges faced by members of the Deaf community seeking mental health assessment and intervention.     

What price compromise?

This paper identifies, and tests experimentally, a prediction of the Nash bargaining axioms that may appear counterintuitive. The context is a simple bargaining problem in which two players have to agree a choice from three alternatives. One alternative favours one player and a second favours the other. The third is an apparently reasonable compromise, but is in fact precluded as an agreed choice by the Nash axioms. Experimental results show that agreement on this third alternative occurs rather often. Our subjects’ behaviour could be interpreted as the paying of an irrationally high price, according to the Nash axioms, in order to reach a compromise agreement.     

False Economy: Financialization,Crises and Socio‐Economic Polarisation

Over the last few decades, a range of profound and widely recognised changes have affected the global economy and global labour markets, driven by a growing imbalance of power between financier dominated capital and labour, a scenario facilitated by the extended availability of labour due to the process of globalisation of itself and, to some degree, by labour supplanting technologies (Standing, 2011, Brynjolfsson and McAfee, 2011). However, arguably, what is less clearly understood is that the financial sector's role in this overall process and, indeed, increasing power rests to no small extent on its capacity to ‘conjure’ wealth from credit creation and, often, opaque practices that are highly abstracted and/or only tenuously connected to real economic activity (Korten, 2009). This shift, and the latter in particular, it is argued, in addition to producing a sequence of financial crises culminating (thus far) with the crash and recession of 2007/8, has fundamental implications for the future shape of the global economy, labour markets and, as a consequence, the life chances and opportunities that potentially confront succeeding generations, assuming that trends continue on their present course. This piece considers these issues with particular emphasis on their implications for the UK and its citizens.     

Simple Arrow-type propositions in the Edgeworth domain

This paper presents an Arrow-type result which can be simply demonstrated to hold within the standard domain of welfare economics: in the m×n Edgeworth box, a best allocation must assign all goods to a single individual. Received: 4 July 2000/Accepted: 22 October 2001 For their encouragement and guidance, thanks are due to David Austen-Smith, Jill Barnard, Bob Sugden and (especially) John Weymark, and to participants at the March 2000 meeting of the Public Choice Society. The paper has also benefited from the considerate criticism of two anonymous referees.