The variegated financialization of sub-prime credit markets

Lindsey Appleyard; K. Rowlingson; J. Gardner

doi:10.1177/1024529416657488

The variegated financialization of sub-prime credit markets

Lindsey Appleyard, K. Rowlingson, J. Gardner

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

22 Citations (Scopus)

92 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 language	English
Pages (from-to)	297-313
Journal	Competition & Change
Volume	20
Issue number	5
DOIs	https://doi.org/10.1177/1024529416657488
Publication status	Published - 30 Jun 2016

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

UN SDGs

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

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10.1177/1024529416657488

Competition & Change-2016-Appleyard-1024529416657488Final published version, 375 KB

Lindsey Appleyard
- Research Centre for Business in Society - Assistant Professor Research
Person: Teaching and Research

Cite this

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title = "The variegated financialization of sub-prime credit markets",

abstract = "The {\textquoteleft}financialization of everyday life{\textquoteright} 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 {\textquoteleft}lived experience{\textquoteright} 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 {\textquoteleft}super inclusion{\textquoteright}/{\textquoteright}relic{\textquoteright} financial ecologies 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

Bibliographical note

Keywords

UN SDGs

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Lindsey Appleyard

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