Family Economics Personal Bankruptcy Introduction

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Family Personal Bankruptcy

Traditional sociological models of normative conformity suggest that those who most comply with presumed cultural expectations would be least likely to turn to practices that suggest a failure of their standing. Being in the midst of a normative storm, however, changes the very nature of the environment and even the conditions of those who are living through the commotion. Theoretical models, including social systems theories, can be particularly susceptible to these issues since they are based on the idea that the parts and interactions between those parts are vital for understanding what is happening and what might happen. What this means for people and their finances is not yet clear though they are often tied to business expectations in general (Granovetter, 2005: 34).

Nevertheless, it can still be safely assumed that if the particularly players (be they individuals, families acting as one, businesses, corporations or even nation-states) were effectively being forced into doing something they did not want to do, all would opt to find a way to undertake a "fresh start" in one way or another (Biza-Khupe, 2008).

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The methods and means behind the various types of bankruptcy protections, after all, foresee this, and were designed and have evolved (legally and politically) for the exact purposes of trying to determine how such a recovery could best come about. Good people (or entities of a social nature) want to continue to being good, particularly if they feel at all connected to passing that sense of cultural accomplishment on to their offspring.

The dramatic economic thunderstorm has clearly smudged the boundaries of these nebulous distinctions, however. There is no long such apparent direct links any longer between what people seem to be doing and why they are doing….....

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