Time perspective and economic instability: a comparative study (2007 and 2013)

Abstract

Developmental dynamics of time perspective during the period of economic instability in Russia was studied. Subjects of different age and gender were examined in 2007 (n = 388, 116 men and 272 women aged 14–88) and in 2013 (n = 344, 115 men and 229 women aged 14–81). The comparative analysis of indices of time perspective, subjective well-being and tolerance for ambiguity measured before and after the financial crisis of 2008 was performed. The study shows that after crisis adaptation to situation of economic instability take place. Such index of time perspective as Present Hedonistic score increased in 40–49 year old women. In general, Present Fatalistic score decreased especially in women aged 30–49. Future and Positive Past scores decreased. Relationship between tolerance for ambiguity and subjective well-being is shown. Respondents who are more open to the uncertain situations and are ready to bravely react to events of the unknown future are more satisfied with their life (especially those who are 21–39). In older people tolerance for ambiguity decreases which manifests itself in low levels of such component of subjective well-being as Environmental Mastery and in decrease of life satisfaction.