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100 Cards in this Set

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Resources (Hamilton)

Anything people use or might use to achieve an end.

Resources (Foa)

Anything, concrete or symbolic, which can become the object of exchange among people.

Resources (Howitt)

Resources are matter of relationships and not things.

Classification of Resources

Tangible and Intangible.

Human Resources

Are unique to people either cognitive or physical.

Human Capital

A human resource, ability, behavior, effort, and time. Energy to accomplish tasks

Why do individuals invest resources?

Commitment to group, engagement or care about group, performance or desire for excellence, or return on investment or reward

How do we get Economic Resources?

Either by acquiring or inheriting them. Or through societal issues.

Examples of acquiring economic resources

Labor, Wages, Salary

Examples of societal issues with economic resources

Gender issues in wages, distribution equity, taxes

Environmental Resources

Resources available from the physical environment, provided by nature.

Classification of environmental resources

Renewable and Non-renewable

Sterner 2003

Shortage and depletion of resources with inadequate policies to protect the environment. Tug of war between conservationist, environmentalist and capitalistic pursuits

Resource Availability

People use resources to meet physical and psychological needs.

When does something become a resource?

When there is a use for it or if someone determines that it has value.

Utility

A resource must have a purpose.

Accessibility

A resource must be available and accessible.

Transferability

A resource must be available where and when it is needed.

Interchangeable

Resources must be exchangeable for other things.

Manageable

A resource must be capable of all of the above and useful in the planning process.

Resource Theory

People try to meet needs in the context of social interaction.

6 Types of Resources

Love, Status, Information, Money, Goods, Services.



Resources classified under resource theory

Particularistic or concreteness

Social Resources

Social Capital: connections among individuals, networks, collectively owned, inside family, outside of family.

Examples of Inside of the family social resources

Communication, archival family functions.



Examples Outside of Family social resources

Collective socialization, within the community, local state and federal programs, goods, services, volunteerism.

Measurement of Resources

Equitable Exchange, Theory of Relative Resources.

Equitable Exchange

Receive something equal to what is given, fair pricing, dependent on nature of the interaction and relationships of those involved.

Theory of Relative Resources

The balance of power in relationships will be on the side of the partner who has the most resources.

How is Balance found?

In the way resource management improves the lives of people, white minimizing the negative effects on culture, environment, and equity.

Resource use

Exchange of one for another, production and consumption, saving or investing, and protection or exploitation.

Resourcefulness

Ability to identify and use resources to meet needs effectively.

2 Powers of Resource Allocation

Orchestration power, and Implementation power.

Resource Allocation

Impact of certainty, risk, and uncertainty.

Allocation Behavior

Strategies use in the decision-making process.


Multi-layered decisions.


Choices and Opportunity costs.


Those with less certainty and fewer resources plan for loss are more frequent


Use more resources earlier


Adjustment may be made


American Thrift





Deutsch's 3 Principles of Distributive Justice

Equity, Equality, and Need.

Equity


Equality


Need

Based on Fairness


Based on Equal distribution


Base on assessment of each individual's level of need.

Voluntary Simplicity

Rejects the ideas behind consumerism, resists consumerism, and living the simple life.

Decisions based on solid understanding

Greater chance of satisfying and enriching family existence.

Consumerism

Evolution of economy based on sustainability to one of mass production, marketing, and distribution.

Capitalistic Industrialization

Shift from family sustainability as economic activity to participation in the economy

Main events with Consumerism

Great Depression and WW2



Families are Integral to the Economy

Spending money on resources, and by providing the labor force



Economic Principles

Making choices- Limited resources, unlimited needs. Economics as a field study- how resources are expended, fueled by money. Supply and Demand.

Pricing

Supply and Demand


Shortage and Surplus


Functional Value and Preferences



Employment

Impacted by supply and demand



Circular Relationship

Deals with Employment


Family members demand products and services, and work in the production and delivery of products and services

Labor Force

All people over 16 seeking work or already employed



Unemployment rate

% of people seeking employment but without work at current time

Unemployment types

Frictional- leave one of another


Cycle- Demand in job has dropped/ restructuring


Structural- Economy changes



Unemployment Hardships

Psychological, physical, and relational

Women in Labor Force

Work for personal satisfaction, supporting the family financially , opportunity cost

Adolescents on the Job

1/2 of adolescents are employed


Consume goods and services


Lower pay


Lower skilled jobs


First to be fired


Teaches responsibility, skills

Money

Anything that can be used for exchange. Provides a common measure of value,

Banking

Provides storage of money

Inflation

Increase in price overtime



Exchanging Non-monetary resources

Impossible to calculate quantitatively because there is no common unit for comparison of value




Time, energy, talent, ideas, emotional support.


Ex. Childcare, Carpooling



Societal Systems that influence family decisions

Tax Systems


Government Supported


Private Programs


Compulsory Education



Government Supported Assistance Programs

Health and Human Services


Department of Agriculture


The Food and Drug Administration



Consumer Protection

A reflection of cultural beliefs that producers of goods and services cannot be fully entrusted to protect the safety of consumers. Efforts directly impact resource acquisition and expenditure.

Protect Consumers against

Unfair, fraudulent practices.



Who enforces Consumer Protection?

Bureau of Consumer Protection

Privately Funded Programs/ Charitable Giving

Funding is provided through individual or group donations


Often faith based



Compulsory Education

Department of Education


Department of Health and Human Services


Department of Agriculture



Compulsory Education (State Level)

Control and coordination of public education within each state usually falls under the jurisdiction of state-level departments of education



Compulsory Education (Community Level)

Public education in the U.S. operates at the local level.


Ex. Daily Operations, budgets, and financial management

Compulsory Education (Family Involvement)

Has options, parental involvement varies greatly.



Tax obligations

Reduce the amount of resources available to families, but provide other resources important to social goals and family survival

Smart Goals

Specific


Measurable


Attainable


Realistic Relevant


Timely

Goals

An end that one tries to attain. Short term, intermediate, long-range, societal, family, and personal.

Objectives

Subsets of goals


Measurable benchmarks to gauge progress towards goal.


Specific

Standards

Perceptions of levels of adequacy


Reflect multi-generational development progress


Standard of living

Planning Process

Initiated by a decision that is made


Objectives are plotted and tasks are determined


Identification of situation that requires action


Formulation of a Plan


Implementation of that Plan


Evaluation of Plans success or failure

Plan

Course of action

Ideals drive

the behavior of proactive people

Outside forces and opinions

matter to reactive people

Types of Plans

Directional


Adaptive


Contingency


Proactive


Reactive


Strategic

Actuating

Putting plans into action



Family Financial Planning (Americansocial ideals)

Acquisitions of assets


Management of those assets is key to financial success

Family Financial Planning (Life Cycle

Stage One:Early Adulthood to Middle Age

Stage Two:Pre-Retirement


StageThree: Retirement

Creating the financial plan

Prepare for the worst


Expected expenses


Unexpected expenses


Family goals



Skills for a good financial plan

Flexibility


Liquidity


Protection


Tax Efficiency

Emergency Action Plans

Strategy- Identify all possible disasters


Conduct family discussions


Identify/ Acquire supplies

How Plans Emerge

Communication


Leadership


Purposeful Endeavors

Two Major Plans for Future

Emergency and Financial

Relationship between the decision making and communication process

DM is dependent on the communication process

Shared meanings for families

Needs, alternatives, and ultimately the completion of the decision making process

Communication Process

Message
Channel


Message sent through the channel to receiver


Message gets to the receiver gets message and decodes


Feedback is given by the receiver to sender

Family Communication

Inter-subjectively- shared meanings


Interactivity- way in which family communicates

Filters

Convince sender and receiver that the message was not intended in its true form

Distorters
Convincesenderor receiver that the message containsa hidden meaning

2 Family Communication Orientations

Conformityorientation Common attitudes, beliefs and values are expected.



ConversationOrientationAllowsfamilymembers the freedom to express themselves

4 Family Communication Patterns

Consensual families – high conversation; high conformity


Pluralistic families high conversation; low conformity


Protective families low conversation; high conformity



Laissez-faire families lowconversation; low conformity

Showing power

Withdrawal, Guiltinduction, PositivecoercionNegotiation, Deception, Blackmail, Physical/verbalabuse

Family power

Balance of power in family is reflected in the relationships. Person gaining the most from the relationship will be most dependent on other family members

Resource Theory (Family Resources)

More power is given to the family with the most resources

5 Resources

Normative- Determined by cultural or society


Economic- Monetary


Affective- Relational


Personal- Personality


Cognitive- Intelligence

Symmetrical Conversations Types

Competitive- Defeat the other


Submissive- No one accepts responsibility


Neutralized- Mutual respect


Complementary- Dominant and submissive positions

3 Resolutions to Family Conflict

Agreement


Bargaining


Coexistence

Digital Divide

People who have internet access and the people who don't