The Financialization of Everyday life or the Domestication of Finance?
Scholars applying notions of governmentality and performativity to everyday finance and work on the financialization of daily life suggest that the daily encounter with financial products, credit rating systems and new political and media discourses promoting a financial entrepreneurial spirit lead...
| Published in: | Cultural Studies Vol. 29; no. 5/6; pp. 733 - 760 |
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| Main Authors: | , , |
| Format: | Article |
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Taylor & Francis Ltd
Sep-Nov2015
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=103143435&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 103143435 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 09502386 05G jtl: Cultural Studies issn: 09502386 maglogo: N pubinfo: dt: Sep-Nov2015 vid: 29 iid: 5/6 pid: 377 pub: Taylor & Francis Ltd artinfo: ui: 103143435 10.1080/09502386.2015.1017142 ppf: 733 ppct: 27 formats: fmt: – @attributes: type: T – @attributes: type: P size: 692KB tig: atl: The Financialization of Everyday life or the Domestication of Finance? aug: au: Pellandini-Simányi, Léna Hammer, Ferenc Vargha, Zsuzsanna su: Mortgages Financialization Everyday life Economic activity Credit ratings sug: subj: Mortgages Financialization Everyday life Economic activity Credit ratings keyword: borrowers financialization Hungary mortgage performativity rationality ab: Scholars applying notions of governmentality and performativity to everyday finance and work on the financialization of daily life suggest that the daily encounter with financial products, credit rating systems and new political and media discourses promoting a financial entrepreneurial spirit lead to the penetration of financial logic into everyday realms that were once free of economic calculation. This article, drawing on interviews with Hungarian mortgage borrowers, looks at how exactly financial products shift everyday subjectivities, by focusing on three key terrains: relationships, time frames and rationality. We argue that albeit mortgages do carry their own specific logics (certain time frames, rationalities and approaches to relationships are required by certain mortgages), these logics hardly ever succeed in shaping everyday subjectivities to their own image. Finance is ‘domesticated’: mortgages are appropriated to existing relationships, temporal structures and rationalities guiding everyday life. New subjectivities emerge and a novel financial logic is applied to everyday life mostly in cases when the take-for-granted course of events breaks down: when mortgages are denied and people face payment difficulties and defaults. In these cases, previous routines of rationality are questioned, relationships are put to (a financial) test and time frames are revaluated according a financial logic. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y custom: Copyright of Cultural Studies is the property of Taylor & Francis Ltd and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. item: Cultural Studies holder: Taylor & Francis Ltd dt: @attributes: year: 2015 holdings: @attributes: islocal: N |
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