IDEAS home Printed from
   My bibliography  Save this article

The Political Economy of Postmaterialism: Material Explanations of Changing Values


  • Robert Grafstein


This paper uses a dynamic stochastic general equilibrium (DSGE) model of the US political economy to explore the impact of public insurance on the way individuals react to partisan changes in economic policy. In response to these aggregate political shocks, individuals rely on public insurance to insulate them from government-induced volatility in consumption. As a result, the public appears to be relatively less materialistic in its vote choices as well as in "values" surveys, but only because its underlying materialism has less political salience. Thus this insurance model provides an alternative analysis of the rise of "postmaterialist values" and their relation to unemployment. Copyright 2002 Blackwell Publishers Ltd..

Suggested Citation

  • Robert Grafstein, 2002. "The Political Economy of Postmaterialism: Material Explanations of Changing Values," Economics and Politics, Wiley Blackwell, vol. 14(2), pages 163-190, July.
  • Handle: RePEc:bla:ecopol:v:14:y:2002:i:2:p:163-190

    Download full text from publisher

    File URL:
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.


    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Babak Panahi & Christopher Nigel Preece & Wan Normeza Wan Zakaria & John Rogers & Elena Moezzi, 2014. "Review and Conceptualization of Value Congruence toward Construction Industry in Malaysia," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 4(10), pages 611-630, October.

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecopol:v:14:y:2002:i:2:p:163-190. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.