Abstract
Chapter 3 is the first of three chapters exploring the stories of young people developed from interviews we conducted in the US in 2014 and 2015. In this chapter we tell the story of young people’s experiences of the Global Financial Crisis (GFC). These young people, in diverse ways, are transitioning from secondary schooling to college, from schooling to the workplace in a time of disaster. This chapter is about remembering the devastation of the GFC in terms of the human cost. We can count the money, do the math and come to terms with the equations at play in crashing the economy, but will we ever fully understand the extent of the suffering, the depression and anxiety, the feelings of worthlessness, the plans postponed, the substance abuse, and the suicides?
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Beck, U. (1992), The Risk Society, London: Sage.
Bentham, J. (1962), ‘An Introduction to the Principles of Morals and Legislation’, In J. Bowring (ed.), The Works of Jeremy Bentham Vol. 1, New York: Russell and Russell, pp. 1–155.
Brand, S., Engel, S., Canfield, R., & Yehuda, R.. (2006), ‘The Effect of Maternal PTSD Following in utero Trauma Exposure on Behaviour and Temperament in the 9-month Old Infant’, Annals of the New York Academy of Sciences, 1071: 454–458.
Brown, P. (2011), ‘Animal McMansion: Students Trade Dorm for Suburban Luxury’, New York Times, 12 November, available at http://www.nytimes.com/2011/11/13/us/homework-and-jacuzzis-as-dorms-move-to-mcmansions-in-california.html, retrieved on 8 February 2016.
Burton, P. (2009), ‘Business as usual? Responding to the GFC on the Gold Coast’, The Journal of Australian Political Economy, 64: 188–198.
Butler, J. (2004), Precarious Life: The Powers of Mourning and Violence, London: Verso.
Butler, J., & Athanasiou, A. (2013), Dispossession: The Performative in the Political, Cambridge: Polity.
Campbell, P. (2015), Digital Selves: Iraqi Women’s Warblogs and the Limits of Freedom, Illinois: Common Ground.
Chomsky, N. (2012), Occupy, London: Penguin Books.
Cohan, P. (2015), ‘Will $4.6 trillion Leveraged Loan Market Cause the Next Financial Crisis?’, Forbes, 20 November, available at http://www.forbes.com/sites/petercohan/2015/11/20/will-4-6-trillion-leveraged-loan-market-cause-the-next-financial-crisis/#40a55e722345, retrieved on 29 February 2016.
Davis, M. (1990), City of Quartz: Excavating the Future in Los Angeles, London: Verso.
De Botton, A. (2004), Status Anxiety, London: Penguin Books.
Furedi, F. (2004), ‘Heroes of the Hour’, New Scientist, 8 May, 19.
Furedi, F. (2008), ‘Fear and security: A vulnerability-led policy response’, Social Policy and Administration, 42(6), 645–661.
Furlong, A., & Cartmel, F. (2007), Young People and Social Change: New Perspectives (2nd Ed.), Maidenhead: Open University Press.
Giroux, H. (2014), The Violence of Organized Forgetting: Thinking Beyond America’s Disimagination Machine, San Francisco: City Lights Books.
Harris, A., Wyn, J., & Younes, S. (2010), ‘Beyond Apathetic or Activist Youth: “Ordinary” Young People and Contemporary Forms of Participation’, Young, 18(1), 9–32.
Hettema, J., Neale, M., & Kendler, K. (2001), ‘A Review and Meta-analysis of the Genetic Epidemiology of Anxiety Disorders’, The American Journal of Psychiatry, 158(10), 1568–1578.
Howie, L. (2007), ‘The Terrorism Threat and Managing Workplaces’, Disaster Prevention and Management, 16(1), 70–78.
Howie, L. (2009a), ‘Representing Terrorism: Reanimating Post-9/11 New York City’, International Journal of Žižek Studies, 3(3), 1–23.
Howie, L. (2009b), Terrorism, the Worker and the City: Simulations and Security in a Time of Terror, Surrey: Gower/Ashgate.
Howie, L. (2011a), Terror on the Screen: Witnesses and the Re-animation of 9/11 as Image-event, Popular Culture and Pornography, Washington, DC: New Academia.
Howie, L. (2012), Witnesses to Terror: Understanding the Meanings and Consequences of Terrorism, Hampshire: Palgrave Macmillan.
Howie, L. (2015), ‘Witnessing Terrorism’, Journal of Sociology, 51(3), 507–521.
Isidore, C. (2008), ‘Homes in Foreclosure Top 1 Million’, CNN Money, 5 June, available at http://money.cnn.com/2008/06/05/news/economy/foreclosure/?postversion=2008060514, retrieved on 3 February 2016.
Jacobs, P. (2015), ‘New York Times Article Sheds Light on ‘Suicide Clusters’ at America’s Top Colleges’, Business Insider, 28 July, available at http://www.businessinsider.com.au/new-york-times-article-sheds-light-on-suicide-clusters-at-americas-top-colleges-2015-7?r=US&IR=T, retrieved on 18 February 2016.
Kelly, P. (2001), ‘Youth at Risk: Processes of Individualisation and Responsibilisation in the Risk Society’, Discourse: Studies in the Cultural Politics of Education, 22(1), 23–33.
Kelly, P. (2013), The Self as Enterprise: Foucault and the Spirit of 21st Century Capitalism, Surrey: Gower Publishing.
Kelly, P. (2015), ‘Growing Up After the GFC: Responsibilisation and Mortgaged Futures’, Discourse: Studies in the Cultural Politics of Education, doi: doi: 10.1080/01596306.2015.1104852.
Kendler, K. (1996), ‘Major Depression and Generalised Anxiety Disorder: Same Genes, (Partly) Different Environments – Revisited’, The British Journal of Psychiatry, 168(Suppl 30), 68–75.
Luthar, S., & Barkin, S. (2012), ‘Are Affluent Youth Truly “At Risk”? Vulnerability and Resilience Across Three Diverse Samples’, Development and Psychopathology, 24(2), 429–449.
Markus, B. (2016), ‘Silicon Valley Tech Worker Fired After Blogging About Starving While Working at Billion-dollar Food Delivery Firm’, Raw Story, 20 February, available at http://www.rawstory.com/2016/02/silicon-valley-tech-worker-fired-after-blogging-about-starving-while-working-at-billion-dollar-food-delivery-firm/, retrieved 1 March 2016.
Mason, P. (2015), ‘Apocalypse Now: Has the Next Giant Financial Crash Already Begun?’, The Guardian, 2 November, available at http://www.theguardian.com/commentisfree/2015/nov/01/financial-armageddon-crash-warning-signs, retrieved on 29 February 2016.
McKee, L. (2016), ‘Suicide among the Ceasefire Babies’, The Atlantic, 20 January, available at http://www.theatlantic.com/health/archive/2016/01/conflict-mental-health-northern-ireland-suicide/424683/, retrieved on 4 February 2016.
O’Malley, P. (2010), ‘Resilient subjects: Uncertainty, warfare and liberalism’, Economy and Society, 39(4), 488–509.
O’Malley, P. (2011), ‘Security After Risk: Security Strategies for Governing Extreme Uncertainty’, Current Issues in Criminal Justice, 23(1), 5–15.
Prins, S., Bates, L., Keyes, K., & Muntaner, C. (2015), ‘Anxious? Depressed? You Might be Suffering From Capitalism: Contradictory Class Locations and the Prevalence of Depression and Anxiety in the USA’, Sociology of Health and Illness, 37(8), 1352–1372.
Robinson, K. (2011), Out of our Minds: Learning to be Creative, West Sussex: Capstone Publishing.
Rosin, H. (2015), ‘The Silicon Valley Suicides’, The Atlantic, December, available at http://www.theatlantic.com/magazine/archive/2015/12/the-silicon-valley-suicides/413140/, retrieved on 17 November 2015.
Sapolsky, R. (2004), Why Don’t Zebras Get Ulcers, (3rd Edn.), New York: Henry Holt and Company.
Schnell, L. (2016), ‘Million Dollar Walk-on: USC’s Sam Dhillon Balances Basketball, Investment Firm, Pre-med Curriculum’, Sports Illustrated: Campus Rush, 10 February, available at http://www.campusrush.com/usc-trojans-basketball-samer-dhillon-quest-investment0firm-1595894457.html#, retrieved on 17 February 2016.
Schrecker, T., & Bambra, C. (2015), How Politics Makes us Sick: Neoliberal Epidemics, Houndmills: Palgrave Macmillan.
Schwarzman, S. (2015), ‘How the Next Financial Crisis Will Happen’, The Wall Street Journal, 9 June, available at http://www.wsj.com/articles/how-the-next-financial-crisis-will-happen-1433891718, retrieved on 29 February 2016.
Serhan, A. (2014), ‘Bouncing Back’, Superfunds Magazine, 395: 16–21.
Spiegelman, A. (2003), Maus: A Survivor’s Tale, London: Penguin Books.
Spiegelman, A. (2004), In the Shadow of No Towers, New York: Pantheon Books.
Standing, G. (2014), The Precariat: The New Dangerous Class, London: Bloomsbury Academic.
Stone, M. (2015), ‘Facebook’s futuristic campus’, Business Insider Australia, 31 March, available at http://www.businessinsider.com.au/facebook-new-campus-pictures-2015-3?r=US&IR=T#mpk-20-is-the-first-building-on-facebooks-new-campus-to-open-for-business-though-it-will-take-some-time-for-employees-to-move-in-1, 18 February 2016.
Stossel, S. (2014), My Age of Anxiety: Fear, Hope, Dread and the Search for Peace of Mind, London: William Heinemann.
Swain, S. (2015), ‘Sydney Property Investment Guru Stephanie Brennan has $2.3 million Portfolio Aged 24’, News Local: Manly Daily, 18 June, available at http://www.dailytelegraph.com.au/newslocal/news/sydney-property-investment-guru-stephanie-brennan-has-23-million-portfolio-aged-24/news-story/ae0c6c85c7dd35241a7822fa3ff2067d, retrieved on 17 February 2016.
Swanstrom, T. (2008), ‘Regional Resilience: A Critical Examination of the Ecological Framework’, Institute of Urban and Regional Development, working paper 2008–07, University of California, Berkeley.
Taylor, J. (2009), Getting Off Track: How Government Actions and Interventions Caused, Prolonged, and Worsened the Global Financial Crisis, Stanford: Hoover Institution Press.
The Age (2016), ‘New Financial Crisis ‘Certain’, Says Former Bank of England Governor Mervyn King’, The Age, 28 February, available at http://www.theage.com.au/world/new-financial-crash-certain-says-former-bank-of-england-governor-mervyn-king-20160228-gn5pph.html, retrieved on 29 February 2016.
Vardakoulias, O. (2016), 2016 The Year of the Next Global Financial Crisis?’, New Economics, 18 January, available at http://www.neweconomics.org/blog/entry/2016-the-year-of-the-next-global-financial-crisis, retrieved on 29 February 2016.
Vitelli, R. (2012), ‘When Suicides Come in Clusters’, Psychology Today, 28 August, available at https://www.psychologytoday.com/blog/media-spotlight/201208/when-suicides-come-in-clusters, retrieved on 18 February 2016.
Wacquant, L. (2009), Punishing the Poor: The Neoliberal Government of Social Insecurity, Durham and London: Duke University Press.
Walklate, S., & Mythen, G. (2015), Contradictions of Terrorism: Security, Risk and Resilience, London and New York: Routledge.
Walsh, L. L. (2015), Educating Generation Next: Young People, Teachers and Schooling in Transition, Hampshire: Palgrave Macmillan.
Whelan, R., Wotapka, D., Kalita, M., & Timiraos, N. (2010), ‘Faces of the Home-foreclosure Crisis’, The Wall Street Journal, 29 December, available at http://www.wsj.com/articles/SB10001424052748704610904576031632838153532, retrieved on 3 February 2016.
Wikipedia (no date), ‘Subprime Mortgage Crisis’, available at https://en.wikipedia.org/wiki/Subprime_mortgage_crisis, retrieved on 3 February 2016.
Wood, L, K. J., & Teare, R. (2015), Designing Inclusive Pathways with Young Adults, Rotterdam Netherlands: Sense Publishers.
Wyn, J. (2009), ‘Touching the Future: Building Skills for Life and Work’, Australian Centre for Educational Research (ACER), Victoria: Australian Centre for Educational Research.
Author information
Authors and Affiliations
Copyright information
© 2017 The Author(s)
About this chapter
Cite this chapter
Howie, L., Campbell, P. (2017). Precarious Futures: Young People and the Global Financial Crisis. In: Crisis and Terror in the Age of Anxiety. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-51629-9_3
Download citation
DOI: https://doi.org/10.1057/978-1-137-51629-9_3
Published:
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-137-51628-2
Online ISBN: 978-1-137-51629-9
eBook Packages: Social SciencesSocial Sciences (R0)