The variegated financialization of sub-prime credit markets

Lindsey  Appleyard; Karen Rowlingson; Jodi Gardner

doi:10.1177/1024529416657488

The variegated financialization of sub-prime credit markets

Lindsey Appleyard
, Karen Rowlingson
, Jodi Gardner

Research output: Contribution to journal › Article › peer-review

9 Citations (Scopus)

264 Downloads (Pure)

Abstract

The 'financialization of everyday life' is a concept widely recognised by academics as an increasingly fundamental way of understanding the impact of neoliberal ideologies and financial processes on individual identities, subjectivities and relationships with financial services. This article s contributes to debates on the consumption of sub-prime credit and calls for a sophisticated analysis of this aspect of financialization to take into account the variegated use of financial services by people on low and moderate incomes. Drawing on qualitative analysis of the ‘lived experience’ of financialization, based on rigorous in-depth interviews with 44 low/middle income borrowers in the UK the paper concludes that: individuals are at risk of financial insecurity due to increasing variegation of credit markets, and; that the binaries of ‘super inclusion’/’relic’ financial ecologies now fail to reflect the complexity and variegation of credit use in contemporary society as a result of financialization.

Original language	English
Pages (from-to)	297-313
Number of pages	17
Journal	Competition and Change
Volume	20
Issue number	5
Early online date	30 Jun 2016
DOIs	https://doi.org/10.1177/1024529416657488
Publication status	Published - 1 Oct 2016

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 8 Decent Work and Economic Growth

Keywords

financialization
consumer credit
personal finance
sub-prime
financial inclusion
Financial exclusion
credit

Access to Document

10.1177/1024529416657488Licence: Creative Commons: Attribution (CC BY)

AppleyardL2016VariegatedFinal published version, 168 KBLicence: Creative Commons: Attribution (CC BY)

9 Citations
1 Chapter (peer-reviewed)
1 Article

Payday lending in the UK: the regul(aris)ation of a necessary evil?
Rowlingson, K., Appleyard, L. & Gardner, J., Jul 2016, In: Journal of Social Policy. 45, 3, p. 527-543
Research output: Contribution to journal › Article › peer-review

Open Access
File
17 Citations (Scopus)

4113 Downloads (Pure)
Responsible lending in the UK: What role does the state play?
Rowlingson, K., Gardner, J. & Appleyard, L., 31 May 2016, Comparative Perspectives of Consumer Over-Indebtedness: A view from the UK, Germany, Greece, and Italy. Ferretti, F. (ed.). Eleven International Publishing
Research output: Chapter in Book/Report/Conference proceeding › Chapter (peer-reviewed) › peer-review

1 Finished

Monitoring Financial Inclusion (CHASM)
Rowlingson, K. (Principal Investigator) & McKay, S. (Co-Investigator)
FRIENDS PROVIDENT FOUNDATION
1/07/12 → 30/09/17
Project: Research

Cite this

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abstract = "The 'financialization of everyday life' is a concept widely recognised by academics as an increasingly fundamental way of understanding the impact of neoliberal ideologies and financial processes on individual identities, subjectivities and relationships with financial services. This article s contributes to debates on the consumption of sub-prime credit and calls for a sophisticated analysis of this aspect of financialization to take into account the variegated use of financial services by people on low and moderate incomes. Drawing on qualitative analysis of the {\textquoteleft}lived experience{\textquoteright} of financialization, based on rigorous in-depth interviews with 44 low/middle income borrowers in the UK the paper concludes that: individuals are at risk of financial insecurity due to increasing variegation of credit markets, and; that the binaries of {\textquoteleft}super inclusion{\textquoteright}/{\textquoteright}relic{\textquoteright} financial ecologies now fail to reflect the complexity and variegation of credit use in contemporary society as a result of financialization. ",

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The variegated financialization of sub-prime credit markets

Abstract

UN SDGs

Keywords

Access to Document

Fingerprint

Research output

Payday lending in the UK: the regul(aris)ation of a necessary evil?

Responsible lending in the UK: What role does the state play?

Projects

Monitoring Financial Inclusion (CHASM)

Cite this