Theorising resilience in times of austerity

Abstract

Resilience is an important theoretical construct that helps to conceptualise the ways individuals and organisations attempt to countervail the effects of poverty and austerity. As a response to prolonged crises, such as the global economic crisis and the COVID-19 pandemic, this chapter focuses on tracing the psychological, behavioural, sociological and spatial perspectives of resilience, advancing our current understanding of resilience theory within the marketing and consumption context of crises and austerity. The chapter reviews recent research exploring the importance of resilience, and more specifically the notion of persistent resilience in response to long-term stressors, such as unemployment, triggered by the austerity measures imposed by European governments following the global economic crisis as well as the COVID-19 pandemic. In advancing previous research in this area, we offer a broader perspective by underlining the impetus for businesses and communities to employ a range of resilience strategies while also highlighting the importance for individuals to develop a sustainable set of resilience capacities to help creatively navigate the market and flexibly adapt to the long-term effects of intense and long-standing crises.