Letters in Economic Research Updates
Beyond Behavioural Fixes: Situating Personal Finance within Structural Political Economy
Abstract
Candauda Arachchige Saliya
This paper critically examines the intersection of behavioural finance strategies and structural political economy, draw- ing on interdisciplinary literature from behavioural economics, psychology, and development studies. While behavioural interventions such as automation, temporal framing, and crisis playbooks have demonstrated efficacy in reducing cog- nitive load and enhancing household resilience their applicability remains constrained by systemic inequalities, income volatility, and institutional gaps. Through qualitative desk research and critical documentary analysis, the study situates seven science-backed financial strategies within broader socio-cultural narratives and geopolitical contexts. Findings highlight the limitations of framing financial precarity as individual pathology, emphasizing instead the need for inte- grated approaches that combine behavioural insights with structural reforms. By foregrounding the Sri Lankan context alongside global debates, the paper contributes to contemporary scholarship on financial resilience, inequality, and the social construction of economic behaviour.