Dr. Ann Gordon
§The United States has the largest economy in the world and yet Americans are often worried or concerned about the state of the economy and the effect of the economy on their lives. In this paper I examine the complex relationships between groups of people and their fear and opinion of financial collapse; specifically looking into the rationale and influences behind those opinions. Using the Chapman University American Fears Survey, I found a strong correlation between low income and fear of financial collapse, especially amongst those who make less than fifty thousand dollars a year. Education is also shown to affect opinions and severe concern about financial collapse. I find that low-income Americans are more likely to fear economic collapse due to their already unfortunate financial position, and lack of backup capital. I also find that those who watch Fox News and consume more information on social media are more worried about the economy than those who don’t. Finally, I find that those who have other economic fears such as fears of not having enough money in the future, and fear of not being able to pay off a mortgage or rent are much more likely to fear financial collapse. Although a future of perfect economic stability in the United States is unrealistic, the impact and reasoning behind the fear of the economy itself may influence Americans to think about how they view the economy and their financial decisions moving forward.
Hutchens, Robert, "Who is Most Likely to Fear Financial Collapse" (2023). Student Scholar Symposium Abstracts and Posters. 614.