The Financialization of Everyday life or the Domestication of Finance?

Pellandini-Simányi, Léna; Hammer, Ferenc; Vargha, Zsuzsanna

doi:10.1080/09502386.2015.1017142

Cited by 89 publications

(46 citation statements)

References 41 publications

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“…The financialization of daily life or home thesis (Martin, ; Aalbers, ; Langley, ; Montgomerie, ; Allon, ; Lazzarato, ; Palomera, ; Pellandini‐Simányi et al ., ) can be related to critiques of the asset‐ or property‐based welfare thesis suggesting that ‘rather than relying on state‐managed social transfers to counter the risks of poverty, individuals accept greater responsibility for their own welfare needs by investing in financial products and property assets which augment in value over time’ (Doling and Ronald, : 165). Homeownership is discursively supported almost everywhere and fiscally underpinned in many countries.…”

Section: Housing In the Financialization Literaturementioning

confidence: 99%

The Variegated Financialization of Housing

Aalbers

2017

Int J Urban Regional Res

311

178

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Section: Housing In the Financialization Literaturementioning

confidence: 99%

The Variegated Financialization of Housing

Aalbers

2017

Int J Urban Regional Res

311

178

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“…The responsibilisation of 'ordinary' households thus had already appeared during the socialist era, and does not, therefore, represent the hallmark of a 'new' financialised reality [cf. Greenfield and Williams 2007;Saegert, Fields and Libman 2009]-the implication being that socialist discourse of thrift had formed a discursive and practical basis for what in contemporary literature is termed the financialisation of everyday life [Pellandini-Simányi, Hammer and Vargha 2015;García-Lamarca and Kaika 2016;Lai: forthcoming]. This process of the financialisation of the day-to-day relies heavily on the notions of self-care and self-responsible citizens using financial products to secure themselves for the duration of their life rather than relying on traditional state-organised means to provide for their welfare [Doling and Ronald 2010: 165;Giesler and Veresiu 2014;van der Zwan 2014: 112].…”

Section: Discussionmentioning

confidence: 99%

Discourses of Thrift and Consumer Reasonability in Czech State-Socialist Society

Hájek¹,

Samec²

2017

Czech Sociological Review

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abstract:The article examines how notions of thrift, saving, and frugality were present and active in the state-socialist discourses of economic behaviour and what meaning these notions carried. The research is based on three kinds of data: the official state-socialist public discourse of economic behaviour as presented in transcripts of parliamentary speeches, household guides and manuals, and eyewitness accounts of the state-socialist era recollected in oral history interviews. Such a multi-faceted corpus of discourse data made it possible to examine factual and normative aspects of thrift in state-socialist discourses and compare them with the accounts of everyday practices and tactics that may well contradict the official discourse. The analysis reveals that (a) notions of thrift and saving were strongly present throughout the period in all discourses examined, (b) both terms underwent a semantic shift from a productive to a restrictive meaning over time, and (c) both notions were eventually publicly sidelined by the emphasis on raising revenue. Despite fading from public discourse in the late 1980s, the notion of thrift had by then become instilled in the subjective understanding of the 'reasonable consumer', a concept that can therefore be considered a precursor of the contemporary concept of consumer responsibilisation. keywords: thrift, saving, discourse analysis, socialism, consumers, consumer responsibilisation Sociologický časopis / Czech Sociological Review, 2017, Vol. 53, No. 6: 805-831 https://doi.org/10.13060/00380288.2017 * Acknowledgements: This work was supported by the Czech Science Foundation (grant number 15-04863S). We thank two anonymous referees for their many suggestions, which helped us to substantially improve the paper. We are also grateful to Markéta Fuchs for help with the English. ** Direct all correspondence to: Martin Hájek, Faculty of Social Sciences, Charles University, U Kříže 8, 158 00 Prague 5, Czech Republic, e-mail: martin.hajek@fsv.cuni.cz; Tomáš Samec, Faculty of Social Sciences, Charles University, U Kříže 8, 158 00 Prague 5, Czech Republic, e-mail: tomas.samec@fsv.cuni.cz. Sociologický časopis/Czech Sociological Review, 2017, Vol. 53, No. 6 806 The present-day discursive representation of consumer behaviour in Czech society is marked by a visible inconsistency. On the one hand, experts and the media praise rising household consumption as contributing significantly to the growth of the national economy (or so we are told). On the other hand, insistent warnings, likewise supported by experts, against over-indebtedness, both individual and public, appear regularly in those same media. Uncertainty about what is a 'desirable' level of consumption becomes apparent in the context of household saving behaviour. Czech households' bank savings are relatively high compared to their debts and continue to grow despite almost negative interest rates. Consequently, money-saving Czechs are relatively reluctant to make use of consumer credit or other advanced financial services; ...

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“…The subprime crisis affected France through an economic slowdown and an increase in unemployment and national debt. The country did not, however, experience an increase in the number of foreclosures, nor did it see credit rates suddenly escalate as occurred in the USA and in several other European countries (Moiso, 2015;Pellandini-Simá nyi et al, 2015;Sabaté, 2016). This may be explained either by the low-debt ratio in France relative to neighbouring countries (Babeau, 2011) or by the extremely cautious credit practices of Socio-Economic Review, 2018, Vol.…”

Section: Introductionmentioning

confidence: 99%

Toward a relational sociology of credit: an exploration of the French literature

Lazarus

Lacan

2018

Socio-Economic Review

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This article aims to describe the sociological studies of credit developed in France over the past dozen years. These studies propose a specific method and approach to address credit, primarily understanding it as a result of social interactions embedded in organizational and legal structures, with consequences on inequalities, social stratification, and individuals' life experiences. The article is divided into four parts: after an introduction presenting what can be called the French school of the sociology of credit, we present the 'different voice' of the French school of the sociology of credit, which analyses the credit market according to a relational approach. The third section examines the construction of social domination at the moment of credit assessment. We then focus on the demand side: borrowers are not atomized individuals but part of households and other local communities. Finally, the conclusion discusses how this French approach to credit may be useful outside of France.

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The Financialization of Everyday life or the Domestication of Finance?

Cited by 89 publications

References 41 publications

The Variegated Financialization of Housing

The Variegated Financialization of Housing

Discourses of Thrift and Consumer Reasonability in Czech State-Socialist Society

Toward a relational sociology of credit: an exploration of the French literature

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