Theory of adjustment, adaptation and regeneration: Household responses to major external events

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Earl Morris

Abstract
The paper outlines the theory of adjustment, adaptation, and regeneration as means of explaining household responses to major external events such as the economic transition in Poland that was precipitated by events in 1989. The theory utilizes the three concepts, adjustment, adaptation and regeneration to refer to types of responses made by households in solving household- level problems arising from major macroeconomic change. The definition of a major external event is that it is so severe as to make normal adjustment behavior ineffective and, thereby, invokes adaptive responses. Regeneration is necessary when the major event is so severe as to destroy the households ability to adapt to the new conditions.

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Morris, E. (1998). Theory of adjustment, adaptation and regeneration: Household responses to major external events. Zeszyty Naukowe SGGW - Ekonomika I Organizacja Gospodarki Żywnościowej, (32), 5–19. https://doi.org/10.22630/EIOGZ.1998.32.1
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