EICCA - Economic Insecurity: Causes, Consequences and Actions - FHSE

The project at a glance

Start date:

15 Nov 2024
Duration in months:

78
Funding:

Doctoral training unit (DTU)
Principal Investigator(s):

Conchita D'AMBROSIO

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About

There is a growing sentiment that the world is becoming more insecure. Fears regarding the future have been affected by recessions and unemployment, the digitalisation of jobs and artificial intelligence in general, worries about Covid-19 and future pandemics, climate change and the refugee crisis, and armed conflicts, among others. When interviewed about their own economic situation and their expectations for themselves and for their country in the future, individuals’ responses have become increasingly pessimistic over time (see, for example, the Consumer Confidence Indicator of the European Commission). Economic insecurity is known to have negative effects on health and wellbeing. But how much do we actually know about it? We propose the analysis of economic insecurity in four closely-intertwined research questions, all of which are needed for the holistic understanding of EI in our societies. These four questions will be addressed by researchers from across the social sciences.

Measurement

The first is the key question of how insecurity can be measured. In order to make statements about how insecurity has changed, or which groups are more affected, we need to measure it in a systematic way. There are a number of different propositions at present, and we aim to provide a harmonised overview that will allow comparisons over time and across groups to be made.

Consequences

The second is the better understanding of why insecurity matters. While it is commonly accepted that the insecure have lower wellbeing, its consequences in other areas of individuals’ lives are less-well understood. Those who are insecure may have fewer children, invest less in their jobs, and move geographically. Equally, insecurity can affect how much people trust each other, and the way in which they vote. All of these potential consequences have major implications for the society in which we live.

Causes

Given that insecurity is so important, we next ask how it comes about. There is currently not enough work on these causes, partly because there is continuing debate on how insecurity should be measured: the measurement of insecurity is what we address in our first key question. We can then look in turn at the different factors lying behind the fear for the future that we mentioned above, to see which are the most important.

Actions

Last, and informed by all of the above, we will ask which public policies are the best-adapted to tackle the root causes of insecurity and address its consequences.

With this Doctoral Training Unit (henceforth DTU), we will train social scientists from a variety of disciplinary backgrounds interested in the quantitative analyses of the causes and consequences of EI for individual’s lives and society at large, and the understanding of the role that public policies play in mitigating or amplifying its size and impacts – this is essential for the development of adequate policy actions addressing the rise of insecurity, and therefore, the improvement of individual wellbeing.