The Lived Experience of Financialization at the UK Financial Fringe
Bibliographic Data
| ID | 2116249 |
|---|---|
| Authors | Lindsey Appleyard (0000-0003-1087-8450, Coventry University), Carl Packman (Barrow Cadbury Trust), Jordon Lazell (0000-0002-2288-798X, Coventry University), Hussan Aslam (0000-0003-4322-2538, Coventry University) |
| Year | 2023 |
| Volume | 52 |
| Issue | 1 |
| Pages | 24-45 |
| Publication date | 2023-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Social Policy (JOURNAL) |
| Journal identifiers | ISSN: 0047-2794 • E-ISSN: 1469-7823 |
| Publisher | Cambridge University Press (CUP) (PUBLISHER) |
| DOI | 10.1017/s004727942100026x |
| OpenAlex | W3134557774 |
| Language | EN |
| Citations received | 9 |
| References cited | 25 |
The financialization of everyday life has received considerable attention since the 2008 global financial crisis. Financialization is thought to have created active financial subjects through the ability to participate in mainstream financial services. While the lived experience of these mainstream financial subjects has been the subject of close scrutiny, the experiences of financial subjects at the financial fringe have been rarely considered. In the UK, for example, the introduction of High-Cost, Short-Term Credit [HCSTC] or payday loan regulation was designed to protect vulnerable people from accessing unaffordable credit. Exploring the impact of HCSTC regulation is important due to the dramatic decline of the high-cost credit market which helped meet essential needs in an era of austerity. As such, the paper examines the impact of the HCSTC regulation on sixty-four financially marginalized individuals in the UK that are unable to access payday loans. First, we identify the range of socioeconomic strategies that individuals employ to manage their finances to create a typology of financial subjectivity at the financial fringe. Second, we demonstrate how the temporal and precarious nature of financial inclusion at the financial fringe adds nuance to existing debates of the everyday lived experience of financialization
Austerity · Business · Debt · Economics · Financial crisis · Financial inclusion · Financial instrument · Financial regulation · Financial services · Financial system · Financialization · Loan · Mainstream · Political science · Politics · Scrutiny · Finance · Housing, Finance, and Neoliberalism · Political Economy and Marxism
Payday Loan Use Among People With Lived and Living Experience of Substance Use
The Pervasiveness and Consequences of Market Failure in UK Sub-Prime Credit Markets and Challenges for Social Policy
Protect or punish debtors? Policymaker discourse on the state’s role in personal debt governance
Indentured
Exploring ‘Alternatives' in the Consumer Credit Market
Retail banking closures in the United Kingdom. Are neighbourhood characteristics associated with retail bank branch closures
Financialisation and contested citizenship of 'failed' debtors
Systems thinking for better social policy
Beyond individual responsibility - towards a relational understanding of financial resilience through participatory research and design
Lived Economies of Default
Debt to Society
Shoplifters of the World Unite! Law and Culture in Financialized Times
In whose interest? The dynamics of debt in poor households
Everyday family experiences of the financial crisis
Capital at Its Fringes
The US Debtfare State and the Credit Card Industry
All Gone Now”
Feeling the squeeze
Resilience, Agency and Coping with Hardship
Responding to the crisis
Affective life and cultural economy
Unpacking financial subjectivities
Financial Institutions in Disadvantaged Areas
Making sense of financialization
Towards an Ecology of Retail Financial Services
Household Strategies
Exploring what the Notion of 'Lived Experience' Offers for Social Policy Analysis
Payday lending in the UK
In the Shadow of the Welfare State
| Unique citing works | 9 |
|---|---|
| Citations per year | 3 |
| Citation span | 2023 - 2026 (4) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 9 |