Family fortunes: An intergenerational perspective on recession

Abstract

This paper draws on longitudinal qualitative data from a study of family dynamics arising from the arrival of a new generation. It begins by outlining a conceptual framework for exploring historical and economic events through the accounts of families. It then outlines some of the very different ways that individuals responded to questions about the recession, reflecting both their distinct generational positions as well as their relative exposure to risk. How the credit crunch is experienced varies considerably according to the situations of individuals and families, with meaning created retroactively. The way in which individuals narrate their situations depends in part on the kinds of stories that members of the family tell about themselves and their relationships, as well as the less conscious family dialogue that lies behind these. Through an in-depth longitudinal case study, it is shown how family narratives change over time in response to events, suggesting how events in the present resonate with the unresolved legacy of events in the past. © 2010 Academy of Social Sciences.