The Rich are Different: The Effect of Wealth on Partisanship

Peterson, Erik

doi:10.1007/s11109-015-9305-9

Cited by 20 publications

(11 citation statements)

References 31 publications

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“…Thus, Brooks and Manza's (2013) study shows in the US context that after the great recession identifiers with the Democrats increased their demands for social policies, while identifiers with the Republicans even decreased such demands. The same is true for Peterson's (2016) finding that after winning the lottery Republican identifiers are less likely to move away from their Republican identification. Note that in this subgroup, attitude changes simply strengthen or reinforce individuals' prior predispositions.…”

Section: Values Versus Self-interest and Beyondmentioning

confidence: 74%

Going beyond values versus self-interest: whose attitudes change after employment transitions?

Wehl

2020

Political Research Exchange

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Are self-interest or presumably stable value orientations and other predispositions the main drivers behind social policy attitudes? This article contributes to this debate by moving away from its binary discussion. It differentiates between attitude changes driven by self-interest that are in line with pre-existing predispositions and those that are not. Empirically, this article focuses on changes of labour market policy attitudes after employment transitions and job insecurity changes. More precisely, this article differentiates between attitude changes within three subgroups. (A) People whose self-interest after the employment transitions reinforces their prior predispositions. (B) People without strong prior predispositions, who are thus unconstrained by them. And (C) people whose self-interest after the employment transitions contradicts their prior predispositions. Panel analyses with fixed effects use German SOEP waves from 1997 and 2002. Main effects suggest an important role for selfinterest as they show significant attitudinal reactions after most of the transitions and perception changes. However, subgroup analyses result in a somewhat mixed picture. They show attitude changes within different subgroups after different transitions and perception changes. This mixed empirical picture suggests caution when interpreting attitudinal change or stability after changing material circumstances as a sign for the relative importance of self-interest or predispositions.

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Section: Values Versus Self-interest and Beyondmentioning

confidence: 74%

Going beyond values versus self-interest: whose attitudes change after employment transitions?

Wehl

2020

Political Research Exchange

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“…A series of studies support this prediction by showing that job and income loss lead to higher support for redistribution and, therefore, to increased vote shares for left-wing parties (Martén, 2019;Margalit, 2013;Wright, 2012). Likewise, positive income shocks make voters oppose redistribution and lean more to the right (Peterson, 2016;Margalit and Shayo, 2020). By contrast, several empirical studies also show that negative shocks can cause support for populist or far-right parties.…”

Section: Economic Shocks and Political Behaviormentioning

confidence: 97%

Turning Away From the State: Trade Shocks and Informal Insurance in Brazil

Rettl¹

2020

Preprint

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The literature on the effects of economic shocks on voting behavior has proliferated since the Great Recession. However, evidence beyond the US and European countries is scarce. Carrying out an analysis of the re-organization of the party system in the last Brazilian presidential election, I bring novel evidence to this debate. More specifically, I compute the exposure of Brazilian municipalities to the sharp drop in many commodity prices that began in 2011. I find that in municipalities that were more exposed to the shock, right-wing parties had an advantage in the 2018 presidential election, while left-wing parties lost support. I show that this general trend is unlikely to be explained by anti-incumbency and anti-establishment voting.

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“…Financial wealth should also have a greater effect on social policy preferences because financial wealth is much easier to realize in case of an income shortfall (Hariri et al, 2020). Lottery studies support this view as well: Lottery winners are more likely to support a low-tax policy (Peterson, 2016;Powdthavee & Oswald, 2014).…”

Section: Theory and Literature Reviewmentioning

confidence: 97%

Patrimony at Risk: Market Uncertainty and Right-Wing Voting

Brännlund

2022

Comparative Political Studies

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The current literature suggests that financial assets push investors to vote for conservative parties given that right-wing policies are said to generate higher returns. Another popular argument is that wealth reduces demand for welfare spending given that private assets can be used as a substitute for social benefits. What I ask in this study is if asset owners always support right-wing parties and a trimmed welfare state. I argue that owners of financial assets become less tempted by free-market policy offerings when there is uncertainty in financial markets. The dot-com bubble, the financial crisis, and most recently the massive impact on financial markets of the coronavirus show that savings can evaporate in a matter of days. I show that the support for right-wing parties decreases in areas with much financial assets under such conditions.

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The Rich are Different: The Effect of Wealth on Partisanship

Cited by 20 publications

References 31 publications

Going beyond values versus self-interest: whose attitudes change after employment transitions?

Going beyond values versus self-interest: whose attitudes change after employment transitions?

Turning Away From the State: Trade Shocks and Informal Insurance in Brazil

Patrimony at Risk: Market Uncertainty and Right-Wing Voting

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