The Psychology of Economic Mobility

Economic self-concept refers to the beliefs, attitudes, and values that individuals hold about their own economic status and prospects.

Personal values are not typically considered to be a factor that directly influences economic self-concept, although they may indirectly influence economic behavior.

Social comparison is the process by which individuals compare their own social and economic status to that of others.

Motivation is not typically considered to be a direct consequence of social comparison, although it may be indirectly influenced by social comparison.

Goal-setting is the process of setting specific, measurable, achievable, relevant, and time-bound goals.

Personal values are not typically considered to be a factor that directly influences goal-setting behavior, although they may indirectly influence goal-setting.

Resilience is the ability to bounce back from adversity and setbacks.

Personal values are not typically considered to be a factor that directly influences resilience, although they may indirectly influence resilience.

Purpose is the sense of direction and meaning that an individual has in their life.

Social support is not typically considered to be a factor that directly influences sense of purpose, although it may indirectly influence sense of purpose.

Social identity is the sense of belonging to a particular social group.

Personal values are not typically considered to be a factor that directly influences social identity, although they may indirectly influence social identity.

Self-efficacy is the belief in one's own ability to succeed in a specific situation.

Personal values are not typically considered to be a factor that directly influences self-efficacy, although they may indirectly influence self-efficacy.

Optimism is the belief that the future will be better than the present.

Self-awareness is not typically considered to be a factor that directly influences optimism, although it may indirectly influence optimism.