On the Social Representations of Intergenerational Equity

On the Social Representations of Intergenerational Equity

JULIA M. PUASCHUNDER August 2011

The 2008/09 World Financial Crisis’ impact on economic markets, internationalfinancial policies and society is indubitable. Caused by the neglect of social responsibilityechoing in global financial markets, the world economy has weakened since August 2008.The crisis caused what Alan Greenspan called a ‘once in a century credit tsunami’ featuringgovernmental takeovers and corporate bailouts, a lock-up of credit markets and inter-bank lending, a 25 percent drop in financial market indices, bailed-out European countries and aeconomically-hampered US government (Duchac, 2008). The announcement of therecapitalization of the finance sector in October 2008 halted liberalization trends andperpetuated skepticism and mistrust in unregulated markets (Gangl, Kastlunger, Kirchler &Voracek, 2012).

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