Exploring the relationship between money attitudes and Maslow's hierarchy of needs

This study explores the relationship between basic human needs and money attitudes in a university‐age cohort utilizing Maslow's theory of hierarchical needs. Results confirmed relationships between needs and money attitudes. Specifically, all of Maslow's needs appear to be strongly related to the money attitudes of evaluation and anxiety. In addition, men's and women's needs are highly correlated with obsession, budget, anxiety and particularly evaluation. Findings support existing literature and point to the importance of understanding money attitudes and level of need satisfaction among individuals and families, particularly from a counselling and educational standpoint. Implications and possible areas for future research are discussed.     

A cross-cultural examination of the aetiology of attitudes towards money

Few cross-cultural studies have been conducted on the aetiology of attitudes toward money. Such research becomes more important with increased international economic exchange. This study compares attitudes towards money in Great Britain and the U.S.A. The purpose was to replicate Furnham's British study made in 1984 using the Money in the Past and Future Scale (MPFS) with an American sample to provide a cross-cultural comparison. Analysis of Variance (ANOVA) was used to determine which of the sociodemographic variables were related to respondent attitudes toward money in the past and future. Differences in the MPFS were found between the two countries. The origin or aetiology of these differences in attitudes towards money can be, in part, attributed to cultural differences that begin in the context of the family and are reinforced by society.     

Ghanaian attitudes towards money in consumer culture

The globalization of American‐style consumer culture has invited transformations in attitudes towards money in many societies around the world, rich and poor. However, the majority of research in this area has focused on affluent countries. Towards redress, I report on a study that examined the psychometric properties of Yamauchi and Templer's (1982 ) money attitude scale (MAS) using a sample drawn from Ghana, West Africa. The findings suggest that although the MAS needs to be reconfigured for effective use in Ghana, Ghanaians have attitudes towards money that are similar in most respects to what has been observed in wealthier countries, which suggests the global reach of consumer culture. Limitations and future research are proposed.     

A MODEL OF THE FIRM'S DEMAND FOR MONEY UNDER UNCERTAINTY

Recently, economists have centered their explanation of the demand for money balances on the transactions motive. The roles of precautionary and speculative motives remain ambiguous. The purpose of this paper is to fill this void. We develop a static model of the individual firm's demand for money in which prices and the interest rate are assumed to be random variables. In this model, the entrepreneur must decide his money holdings ex ante, and both capital and labor inputs are determined ex post. The demand for money corresponding to the various motives is a consequence of analyzing the ex ante profit function. Implications for monetary policy are derived from this analysis.     

The impact of money attitudes and global life satisfaction on the maladaptive pursuit of consumption

The goal of this research was to examine how money attitudes and global life satisfaction relate to and predict compulsive buying among young adults. Using a Prolific Academic sample, 265 adults between the ages 18 and 25 completed the Money Attitudes Scale, Money Ethics Scale, Spendthrift‐Tightwad Scale, Satisfaction with Life Scale, and the Richmond Compulsive‐Buying Scale. As expected, motives toward saving and spending money as assessed by the Money Attitude Scale and pain of paying as assessed by the Spendthrift‐Tightwad Scale were correlated and predicted compulsive buying. However, these findings are qualified by an interaction effect such that those who held negative attitudes toward saving money and experienced little pain of paying were compulsive buyers. Theoretical and practical implications for maladaptive purchasing behavior among young adults are discussed.     

The moral discourse of banks about money laundering: an analysis of the narrative from Paul Ricoeur's philosophical perspective

In this paper, we will use Ricoeur's philosophy in order to present money laundering as a metaphor and a narrative. We will firstly analyze the corporate moral discourse of 10 banks about money laundering. We have selected 10 banks that have codes of ethics and a corporate moral discourse about money laundering. The banks come from six countries: United States (2), Canada (2), Switzerland (2), Spain (2), Germany (1), and Belgium (1). We will see how their moral discourse about money laundering contributes to deepen the understanding of money laundering as a narrative. Then, we will see to what extent Ricoeur's philosophy could help us to better understand the moral discourse of banks. We will describe the main components of money laundering as a narrative.     

The concept of near money in loyalty programmes

Loyalty reward schemes often have their own currency, for example, frequent flyer miles, which is a form of near money or quasi money. In a variation of earlier work by Snelders et al. (1992), when examining both New Zealand (Study 1) and Hong Kong (Study 2) residents, respondents provided typicality ratings, similarity ratings, and answers and reaction times to the question “Is X a type of money?” for examples of money, near money and objects of value. The results from both studies showed that near money is conceptualised in a way that is like but distinct from legal tender. Two further studies investigated implications of this conceptualisation. Study 3 found that preferences for spending near money were influenced by the ostensible purpose of the currency, and Study 4 showed that near money seemed to be placed outside of regular legal tender mental accounts.     

1939–1958: Was Kaldor an Endogenist?

The place of monetary theory within Kaldor's contributions to economic theory has certainly received a considerable amount of attention. Recently, however, it has been implied that Kaldor introduced endogenous money as early as 1939, while conventional wisdom associates this concept with Kaldor's later contributions. This paper addresses this issue. It is argued that while Kaldor's views changed little from 1939 to 1958—the year when he presented his report to the Radcliffe Committee—they did not amount to a theory of money endogeneity. Rather, it is argued that his views were a variation on a monetarist theme, rather than its abandonment. His early views are then contrasted with his later theory, thereby emphasizing the important evolution in his approach to monetary theory.     

Selling poetry by the Pound: T.S. Eliot and The Waste Land brand

Although the battle between culture and commerce isn't over, the conflict has entered a new phase. Research reveals that elite artists like Picasso, Dalí and Warhol – among others – were canny commercial operators who knew their own worth and weren't reluctant to exploit it. However, we are less well informed of culture and commerce's co-dependency in artistic spheres where money rarely intrudes. This paper examines the marketing activities of T.S. Eliot, perhaps the preeminent poet of the twentieth century and epitome of art-for-art's-sake avant-gardism. It indicates that, aided and abetted by il miglior fabbro, Ezra Pound, Eliot proved to be an adroit authorpreneur. Their marketing of The Waste Land brand was ahead of its time and in tune with our own. Few poets are condemned to fame and fortune. Eliot was an entrepreneurial exception.     

KEYNES' WAGE–PRICE DYNAMICS

The paper presents a simple loglinear macroeconomic model designed to discuss the essentials of Keynes' dynamic analysis in the General Theory and in the Treatise on Money. The model has a conventional static Aggregate Demand—Aggregate Supply block plus a three‐dimensional dynamic system involving the money wage and the expected level and rate of change of the output price. It illustrates Keynes' ideas, in particular on the nature of unemployment and on the stabilizing nature of money (as opposed to real) wage stickiness. It also allows to reconcile with empirical observations Keynes' (false) conjecture on the negative correlation of money and real wages.     

Dimensions of cosmopolitanism and their influence on political consumption: an analysis focused on Spanish consumers

The purpose of this study was to confirm the hypothesis that political consumption – a form of consumerism whose importance has increased during the past few years – can be considered a form of critical action, and that cosmopolitanism contributes to its development. The main objective was, first, to analyse an unexplored dimension of political consumption and, second, to obtain a measurement proposal for what some authors have called ordinary cosmopolitanism. The study, based on a survey, was divided into three sections. The first section offers a theoretical introduction to the study proposal. The second describes the hypothesis and the data analysis strategy, and proposes an operationalization of cosmopolitanism in three dimensions – symbolic cosmopolitanism, experiential cosmopolitanism and moral cosmopolitanism – which have been obtained by means of the application of categorical principal components analysis. By applying one‐way analysis of variance and Tukey's test, the third section shows the existence of significantly higher scores in these three dimensions for those individuals who have bought or boycotted products for ethical, political or environmental reasons. Finally, an ordinary least squares regression analysis was performed to test the association between cosmopolitanism and political consumerism, controlling the effect of the main socio‐demographic variables. The study confirms the initial hypothesis; therefore, political consumption could be considered a type of consumerism that is clearly related to cosmopolitanism.     

Ethno‐cultural considerations in negotiation: pretense,deception and lies in the Greek workplace

A retrospect into ethos, this study examines the impact of individualism, collectivism, ethical idealism and interpersonal trust on negotiators' attitudes toward questionable negotiation tactics in Greece. A thousand survey questionnaires were administered to Greek employees, of which 327 usable responses were collected. Our findings empirically corroborated a classification of three groups of negotiation tactics, namely, pretense, deception and lies. Individualism–collectivism and ethical idealism were found to be related, and interpersonal trust was found to be unrelated, to attitudes toward questionable negotiation tactics. Emphasizing the non‐US and non‐Western European nature of the empirical data collected, the originality of this research further stems from the development of a comprehensive research framework about questionable negotiation tactics in Greece.     

UNCERTAINTY AND EXPECTATIONS IN SHACKLE'S THEORY OF CAPITAL AND INTEREST

This paper is focused on the macroeconomic aspects of Shackle's theory of capital and interest. The paper highlights the strengths and weaknesses of this theory. Among the strengths is Shackle's treatment of historical time, expectations and their disappointment, ex ante and ex post magnitudes, macroeconomic equilibrium and disequilibrium. Among the weaknesses is Shackle's failure to grasp the difference between the theory of interest as such and the theory of the money rate of interest as well as the difference between the theory of capital in the context of logical time (the old Austrian approach) and the theory of capital in the context of historical time (Hayek's and Shackle's preferred approach).

相似文献   

Some evidence on the role of money illusion in labor supply behavior

The Keynesian idea that workers are subject to money illusion in their labor supply decisions is tested by estimating a labor supply function that includes the price level as an independent variable. The model is estimated with data drawn from various BLS publications and is aggregated by SMSA. The results indicate a significant negative supply response to price-level changes after controlling for the nominal wage rate, income, and the SMSA's unemployment rate. There is no significant difference between workers' supply response to the price level and the nominal wage rate, which suggests that workers are not subject to money illusion.     

Spending time,spending money: passenger segmentation in an international airport

Changes within the air transport sector have required many European airports to either develop or expand their commercial activities. Strategies have included the expansion of retail space, a broadening of the tenant and merchandise mix and the development of a passenger segmentation strategy. This paper explores the efficacy of this approach by identifying the behaviour of different passenger segments while in an international airport. Using a framework of strategic market segmentation, it identifies how travellers allocate their time having entered ‘airside’ and details any purchases made. Using observational research and a face-to-face quantitative survey, 301 passengers were tracked and interviewed. Through a broad based, a priori form of segmentation, significant differences in shopping behaviour are identified. Such findings assist with the development of the airport's commercial strategy and allow a number of observations to be made about the value of market segmentation from both a theoretical and managerial perspective.     

Consumer food safety perceptions and self‐reported practices in Greece

A substantial proportion of foodborne illness is associated with food prepared in households. The primary understanding of how foods are handled in private homes comes mostly from questionnaire based studies and direct observation. The aim of this survey was to examine consumers' perceptions and knowledge of safe food handling practices in Greece. More specifically, their attitudes, opinions and self‐reported practices were studied. Data were collected from a total of 399 consumers living in Greece by the use of a self‐administered on‐line survey. The questionnaire consisted of four positive and five negative statements according to the 5‐point Likert scale, which grouped into three constructions using principal component analysis in order to investigate food safety perceptions of consumers. Furthermore, the survey included 11 demographic questions, two close‐ended questions (type yes/no) and four questions that are related to self‐reported food‐handling practices. The results showed that the most commonly known bacterium causing food‐related illness according to respondents' knowledge is Salmonella (99.7%), followed by Escherichia coli (73.9%) and Listeria (58.4%). The overall consumers' score concerning food safety was 32.8 ± 5.37 (full score was 45). No significant differences to the mean score of food safety knowledge were found according to gender, age or the incidence of foodborne illness over the past 12 months. Knowledge and awareness of safe food handling practices was enhanced at higher education levels, while homemakers were found to have deficiencies at this level. Information obtained from consumers can be used to shape educational programs and determine where food safety educational efforts would be most effective and the needed content of the messages.     

Cross-cultural folk-tale-elicitation research on the perceived power,humanistic and religious symbolisms,and use of money

This study examines money's symbolic meaning to consumers. The long interview method was applied in India and Korea with emic and etic interpretations to uncover important cultural contextual influences regarding deep-seated symbolic motivations relating to money. Specifically, some Koreans emphasize the importance of spending for enjoyment and the dangers of excessive saving, while Indians universally endorse saving. To provide additional insights, this study introduces folk tale elicitation (FTE). Study results reveal several themes, including money's importance and necessity for providing, security, social legitimacy and respect; the danger of excessive material desire and the potential deleterious transformational nature of wealth; and the importance of providing for one's family. These differences may reflect and stem from economic and cultural differences between the two nations.     

国际热钱对中国房地产市场的影响研究

中国经济快速发展,人民币升值预期强烈,加之国内房地产价格高涨,使得大量热钱通过各种渠道流入我国进行套利。其快速上涨,加剧了房地产泡沫的膨胀。本文通过调查分析相关资料得出热钱在中国历年的存在变化,分析其进入渠道和影响机理,为处理房地产市场和国外热钱的关系,解决存在的问题,提供相对应的解决办法,对政府决策提供一些思路。     

Myth,Sin and Redemption in Capital Account Liberalisation

The Fund's argument that capital account liberalisation in developing countries might appeal for justification to the recognised gains from free trade in goods and services was seriously undermined by the Asian financial crisis. Perhaps the most remarkable critique in view of his pre‐eminence in the development of international trade theory and policy was a short paper by Jagdish Bhagwati in which the Fund's parallel was described as a ‘myth’. Taking up the argument he advanced, this article explores further the underlying weakness of the Fund's case. Jagdish emphasised the discrepancy between the nebulous long‐term benefits from capital flow liberalisation and the painful consequences of the crises that they had recently occasioned. The relevance of the ‘original sin’ hypothesis in determining the magnitude of these costs is therefore discussed here with attention drawn to country inability to borrow readily in their own currencies as a reason for their acute exposure to exchange rate speculation. ‘Redemption’ for borrowers is then sought through an identification of sources of genuine comparative advantage in financial trade. Net flows of finance are not required for the realisation of these gains and a final section argues that there should be no presumption that net transfers improve welfare – just as Jagdish claimed.     

Trade,money and employment in intertemporal optimizing models of growth

This paper unites elements of Sidrauski's (1967) monetary model of growth, Ventura's (1997) analysis of the effects of international trade on growth, and some work on the labour market implications of growth by Barro and Sala-i-Martin (1995). It was shown by Ventura that, for a small economy, free international trade leads to an increase of the de facto elasticity of substitution between the domestic factors of production. The first part of the paper analyses how such an increase in the elasticity of substitution influences the steady state and the speed of convergence. From the Sidrauski model we know that money is super-neutral in the long-run but that monetary policy can have real effects along the transition path as long as the intertemporal elasticity of substitution is not equal to one. In the second part of this paper, it is shown how these results also depend on the elasticity of substitution between factors of production. The results give some important insights into possible interactions between monetary and trade policy in the long and short run. The last part of the paper deals with a modified version of the monetary growth model, which includes endogenous labour supply as in Klump (1993) or Barro and Sala-i-Martin (1995). In this context, international trade, by increasing the elasticity of substitution, leads to lower domestic employment in the long run whereas monetary policy may be able to increase employment at least in the short run. Thus, under certain circumstances, trade and monetary policy can be regarded as complementary with respect to their labour market effects.