The variegated financialization of sub-prime credit markets

Lindsey Appleyard, K. Rowlingson, J. Gardner

Research output: Contribution to journalArticle

4 Citations (Scopus)
43 Downloads (Pure)

Abstract

The ‘financialization of everyday life’ is a concept widely recognized 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 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 and use of credit 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 United Kingdom the article 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 fail to reflect the complexity and variegation of credit use in contemporary society as a result of financialization.
Original languageEnglish
Pages (from-to)297-313
JournalCompetition & Change
Volume20
Issue number5
DOIs
Publication statusPublished - 30 Jun 2016

Fingerprint

Subprime
Credit markets
Financialization
Credit
Financial services
Income
Ideology
Everyday life
Qualitative analysis
Financial inclusion
Subjectivity
Ecology
In-depth interviews

Bibliographical note

This article is distributed under the terms of the Creative Commons Attribution 3.0 License (http://www.creativecommons.org/licenses/by/3.0/) which permits any use, reproduction and distribution of the work without further permission provided the original work is attributed as specified on the SAGE and Open Access page (https://us.sagepub.com/en-us/nam/open-access-at-sage).

Keywords

  • Financialization
  • consumer credit
  • personal finance
  • sub-prime
  • financial inclusion
  • financial exclusion

Cite this

The variegated financialization of sub-prime credit markets. / Appleyard, Lindsey; Rowlingson, K.; Gardner, J.

In: Competition & Change, Vol. 20, No. 5, 30.06.2016, p. 297-313.

Research output: Contribution to journalArticle

Appleyard, Lindsey ; Rowlingson, K. ; Gardner, J. / The variegated financialization of sub-prime credit markets. In: Competition & Change. 2016 ; Vol. 20, No. 5. pp. 297-313.
@article{cdbe55b9b10745ee80894d75a0824b54,
title = "The variegated financialization of sub-prime credit markets",
abstract = "The ‘financialization of everyday life’ is a concept widely recognized 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 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 and use of credit 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 United Kingdom the article 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 fail to reflect the complexity and variegation of credit use in contemporary society as a result of financialization.",
keywords = "Financialization, consumer credit, personal finance, sub-prime, financial inclusion, financial exclusion",
author = "Lindsey Appleyard and K. Rowlingson and J. Gardner",
note = "This article is distributed under the terms of the Creative Commons Attribution 3.0 License (http://www.creativecommons.org/licenses/by/3.0/) which permits any use, reproduction and distribution of the work without further permission provided the original work is attributed as specified on the SAGE and Open Access page (https://us.sagepub.com/en-us/nam/open-access-at-sage).",
year = "2016",
month = "6",
day = "30",
doi = "10.1177/1024529416657488",
language = "English",
volume = "20",
pages = "297--313",
journal = "Competition and Change",
issn = "1024-5294",
publisher = "SAGE Publications",
number = "5",

}

TY - JOUR

T1 - The variegated financialization of sub-prime credit markets

AU - Appleyard, Lindsey

AU - Rowlingson, K.

AU - Gardner, J.

N1 - This article is distributed under the terms of the Creative Commons Attribution 3.0 License (http://www.creativecommons.org/licenses/by/3.0/) which permits any use, reproduction and distribution of the work without further permission provided the original work is attributed as specified on the SAGE and Open Access page (https://us.sagepub.com/en-us/nam/open-access-at-sage).

PY - 2016/6/30

Y1 - 2016/6/30

N2 - The ‘financialization of everyday life’ is a concept widely recognized 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 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 and use of credit 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 United Kingdom the article 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 fail to reflect the complexity and variegation of credit use in contemporary society as a result of financialization.

AB - The ‘financialization of everyday life’ is a concept widely recognized 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 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 and use of credit 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 United Kingdom the article 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 fail to reflect the complexity and variegation of credit use in contemporary society as a result of financialization.

KW - Financialization

KW - consumer credit

KW - personal finance

KW - sub-prime

KW - financial inclusion

KW - financial exclusion

U2 - 10.1177/1024529416657488

DO - 10.1177/1024529416657488

M3 - Article

VL - 20

SP - 297

EP - 313

JO - Competition and Change

JF - Competition and Change

SN - 1024-5294

IS - 5

ER -