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Caring for Debts: How the Household Economy Exposes the Limits of Financialisation

Montgomerie, Johnna and Tepe-Belfrage, Daniela. 2017. Caring for Debts: How the Household Economy Exposes the Limits of Financialisation. Critical Sociology, 43(4-5), pp. 653-668. ISSN 0896-9205 [Article]

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Abstract or Description

This article uses the United Kingdom as a case study to explore the limits of financialisation. It makes visible the increasingly intimate relationship between financialisation, indebtedness and social reproduction under the conditions of neoliberal austerity (Fraser 2014). It does so by unpacking how the everyday experiences of indebtedness materialise among individuals, households and communities. Specifically, we investigate debt’s significance within the household economy by analysing the everyday talk within ‘debt threads’ from leading Peerto- peer forums (Stanley 2014, Stanley et al., 2016). The evidence reveals how debt interferes with and disrupts the intimacies of life, and in doing so erodes its own moral economic claim as a priority obligation within the household economy. These are the limits of financialisation because if debts are not ‘cared for’ they are non-performing. And, non-performing loans – as it turns out – cause catastrophic failures in financialised global markets. This alone makes understanding the household economy relevant to why neoliberalism is failing.

Item Type:

Article

Identification Number (DOI):

https://doi.org/10.1177/0896920516664962

Keywords:

financialisation; household; social reproduction; debt; austerity; feminist political economy; everyday political economy

Departments, Centres and Research Units:

Politics

Dates:

DateEvent
1 July 2016Accepted
30 November 2016Published Online
1 July 2017Published

Item ID:

18926

Date Deposited:

13 Sep 2016 14:59

Last Modified:

16 Jan 2018 16:44

Peer Reviewed:

Yes, this version has been peer-reviewed.

URI:

http://research.gold.ac.uk/id/eprint/18926

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