The Economy and Partnerships

This handbook chapter examines the intricate interplay between the economy and partnership formation (cohabitation, marriage), focusing on heterosexual unions in Australia, Europe, and the US, from the 1960s onwards, with a specific focus on the last decades. The role of the economy is examined by addressing the central importance of economic uncertainty in contemporary societies (i.e. the lack of clarity regarding future economic prospects). The objective side of economic uncertainty is conceptualized as an individual risk factor, primarily associated with unfavorable labor market conditions, such as unemployment and short-term contracts. The subjective side of economic uncertainty is discussed recognizing that under uncertain conditions, individuals increasingly rely not only on the present and past experiences (the “shadow of the past”) but also on their narratives of the future, which reflect contingent plans for reaching certain goals in life.