RELATIVE DEPRIVATION AMIDST FINANCIAL AND ECONOMIC CRISIS

Abstract

The paper considers the key concepts of the relative deprivation theory. The study describes the reference group that may induce negative experiences when compared unfavorably; the relationship between its basic functions and possible emergence of the relative deprivation feeling is investigated. The paper explores the basic elements of the empirical study of the relative deprivation such as the object of comparison, feeling of resentment and indignation, and level of relative deprivation. Using the progressive deprivation model, the author gives an attempt to explain mass protect actions in the Middle East, Europe, Russia and the U.S.A. amidst the 2008 global financial and economic crisis. The dynamics of per capita GDP growth rate, global food prices (declared and real prices sufficient for normal living according to average income) and unemployment rate are used for the comparison with the model. The conformity with the James C. Davies’ “J-curve” hypothesis is revealed when analyzing the declared and real average income data. The author concludes that in order to predict the protest movement in Russia during the 2016 and 2018 elections, the current relative deprivation of Russians should be studied.