Table of Contents

The Psychology of the Recession on the Workplace

The Psychology of the Recession on the Workplace

New Horizons in Management series

Edited by Alexander-Stamatios G. Antoniou and Cary L. Cooper

An economic recession can affect the aggregate well-being of a population. This highly regarded and timely book shows a significant increase in the mean levels of distress and dissatisfaction in the work place in recent years. In particular, increasing job demands, intrinsic job insecurity and increasingly inadequate salaries make substantial contributions to psychological distress, family conflict and related behaviors. The contributors reveal that the recession has fundamentally altered the way employees view their work and leaders. With employers and employees still facing a continued period of uncertainty, a severe impact on employment relations is a continuing reality.

Chapter 1: Well-being among Greeks and immigrants before and after the current financial crisis

Alexander-Stamatios Antoniou and Marina Dalla

Subjects: business and management, human resource management, organisational behaviour, strategic management


From ancient Greek philosophy to modern day existential and utilitarian philosophy as well as clinical, developmental, humanistic psychology and research, human history has emphasized the pursuit of well-being (for example, Ryff and Singer, 2008). The central role of well-being is provided by Aristotle in Book I of Nichomachean Ethics (Aristotle, 1925: 4) which states that: happiness is ‘the highest of all goods achievable by action’ and that it is ‘living well and faring well’. The importance attributed to happiness across cultures and ages is also seen in the Dhammapada from India, which describes happiness as independent of material things and sense desires: ‘Let us live happily, without possessions. Let us feed on happiness like the shining gods’ (Dhammapada, 2000). However, in the philosophical systems of Confucianism and Taoism personal well-being and happiness consist of pursuing a virtuous life through moral capabilities (Lu, 2001). Current psychological research has tended to fall into two general viewpoints of well-being (Ryan and Deci, 2001). The hedonic viewpoint focuses on subjective well-being as a ‘relatively stable feeling of happiness one has towards his or her life’ (Oishi et al., 2007: 347), reflecting general perceived life satisfaction and affective balance by the presence of positive affect and the relative lack of negative affect (Diener et al., 2003).

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information