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The Erosion of Southern Europe's Middle Classes: debt, insecurity and the political economy of austerity

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The Erosion of Southern Europe's Middle Classes : debt, insecurity and the political economy of austerity. / Roumpakis, Antonios; Papadopoulos, Theodoros.

In: Sociologia e politiche sociali, Vol. 20, No. 2, 09.11.2017, p. 67-86.

Research output: Contribution to journalArticle

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Roumpakis, A & Papadopoulos, T 2017, 'The Erosion of Southern Europe's Middle Classes: debt, insecurity and the political economy of austerity', Sociologia e politiche sociali, vol. 20, no. 2, pp. 67-86. https://doi.org/10.3280/SP2017-002005

APA

Roumpakis, A., & Papadopoulos, T. (2017). The Erosion of Southern Europe's Middle Classes: debt, insecurity and the political economy of austerity. Sociologia e politiche sociali, 20(2), 67-86. https://doi.org/10.3280/SP2017-002005

Vancouver

Roumpakis A, Papadopoulos T. The Erosion of Southern Europe's Middle Classes: debt, insecurity and the political economy of austerity. Sociologia e politiche sociali. 2017 Nov 9;20(2):67-86. https://doi.org/10.3280/SP2017-002005

Author

Roumpakis, Antonios ; Papadopoulos, Theodoros. / The Erosion of Southern Europe's Middle Classes : debt, insecurity and the political economy of austerity. In: Sociologia e politiche sociali. 2017 ; Vol. 20, No. 2. pp. 67-86.

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@article{434496536433407a92ff0c6e6b39ed5b,
title = "The Erosion of Southern Europe's Middle Classes: debt, insecurity and the political economy of austerity",
abstract = "Our article examines the position of middle classes in the social reproduction of southern European political economies, in the light of the sovereign debt crisis. The first part analyses the rise of middle classes, especially during the consolidation of familistic welfare capitalisms in the southern Europe in the 1980s and 1990s. The second part discusses the transformation of southern European political economies after their entry in the European Monetary Union and its negative effects on middle classes’ socio-economic security. The third part explores how the fiscal consolidation measures adopted as a response to the sovereign debt crisis resulted in the further undermining of southern European middle classes’ income and employment security. We discuss how the new European economic governance advanced after the crisis challenges the politico-economic foundations of southern European political economies by transforming them into ‘consolidation states’ (Streeck, 2013). Using EU-SILC data on disposable income we also demonstrate the differential impact of austerity measures across the income distribution and explore its considerable variation between and within southern European countries. We conclude that after the crisis the erosion of middle classes has accelerated and, as a consequence, the traditional mode of social reproduction of southern European welfare capitalisms is wearing away. However, the speed and depth of this erosion and its political fallout are not uniform across the countries of the region.",
keywords = "middle class, austerity, crisis, debt, insecurity, South Europe",
author = "Antonios Roumpakis and Theodoros Papadopoulos",
year = "2017",
month = "11",
day = "9",
doi = "10.3280/SP2017-002005",
language = "English",
volume = "20",
pages = "67--86",
journal = "Sociologia e politiche sociali",
issn = "1591-2027",
number = "2",

}

RIS (suitable for import to EndNote) - Download

TY - JOUR

T1 - The Erosion of Southern Europe's Middle Classes

T2 - Sociologia e politiche sociali

AU - Roumpakis, Antonios

AU - Papadopoulos, Theodoros

PY - 2017/11/9

Y1 - 2017/11/9

N2 - Our article examines the position of middle classes in the social reproduction of southern European political economies, in the light of the sovereign debt crisis. The first part analyses the rise of middle classes, especially during the consolidation of familistic welfare capitalisms in the southern Europe in the 1980s and 1990s. The second part discusses the transformation of southern European political economies after their entry in the European Monetary Union and its negative effects on middle classes’ socio-economic security. The third part explores how the fiscal consolidation measures adopted as a response to the sovereign debt crisis resulted in the further undermining of southern European middle classes’ income and employment security. We discuss how the new European economic governance advanced after the crisis challenges the politico-economic foundations of southern European political economies by transforming them into ‘consolidation states’ (Streeck, 2013). Using EU-SILC data on disposable income we also demonstrate the differential impact of austerity measures across the income distribution and explore its considerable variation between and within southern European countries. We conclude that after the crisis the erosion of middle classes has accelerated and, as a consequence, the traditional mode of social reproduction of southern European welfare capitalisms is wearing away. However, the speed and depth of this erosion and its political fallout are not uniform across the countries of the region.

AB - Our article examines the position of middle classes in the social reproduction of southern European political economies, in the light of the sovereign debt crisis. The first part analyses the rise of middle classes, especially during the consolidation of familistic welfare capitalisms in the southern Europe in the 1980s and 1990s. The second part discusses the transformation of southern European political economies after their entry in the European Monetary Union and its negative effects on middle classes’ socio-economic security. The third part explores how the fiscal consolidation measures adopted as a response to the sovereign debt crisis resulted in the further undermining of southern European middle classes’ income and employment security. We discuss how the new European economic governance advanced after the crisis challenges the politico-economic foundations of southern European political economies by transforming them into ‘consolidation states’ (Streeck, 2013). Using EU-SILC data on disposable income we also demonstrate the differential impact of austerity measures across the income distribution and explore its considerable variation between and within southern European countries. We conclude that after the crisis the erosion of middle classes has accelerated and, as a consequence, the traditional mode of social reproduction of southern European welfare capitalisms is wearing away. However, the speed and depth of this erosion and its political fallout are not uniform across the countries of the region.

KW - middle class

KW - austerity

KW - crisis

KW - debt

KW - insecurity

KW - South Europe

U2 - 10.3280/SP2017-002005

DO - 10.3280/SP2017-002005

M3 - Article

VL - 20

SP - 67

EP - 86

JO - Sociologia e politiche sociali

JF - Sociologia e politiche sociali

SN - 1591-2027

IS - 2

ER -