The financialisation of everyday life? An analysis of financial subjectivities and attitudes to economic risk in Spain
- 1 University of A Coruña, Spain
ISSN: 0034-9712
Año de publicación: 2020
Título del ejemplar: Las consecuencias sociales de la financiarización: actores, procesos y estructuras de la economía financiarizada en Europa
Volumen: 78
Número: 4
Tipo: Artículo
Otras publicaciones en: Revista internacional de sociología
Resumen
This article addresses the constitution of financial subjectivities in Spain. It is part of a series of studies aimed at furthering knowledge of the financialisation of everyday life, a process that is redefining the lifecycles of individuals and forging new spaces for calculation and investment. Our work analyses this process, using the technique of the semi-structured in-depth interview. The discourse analysis, based on an analytical model of the concept of financial subjectivity, points to a lack of correspondence between the theoretical contributions concerning this concept and empirical findings. Respondents’ economic behaviour was found to be only weakly financialised. A generalised lack of trust in the financial system, together with the predominance of public social welfare structures, discourage the use of financial investment as a means of protection against risk.
Información de financiación
This article has received funding from the project “Social consequences of financialisation: monetary accumulation, lack of employment, social inequality” funded by the Ministry of the Economy and Competitiveness- Government of Spain, project reference number: CSO2016-78122-R.Financiadores
-
Ministerio de Economía y Competitividad
- CSO2016-78122-R
Referencias bibliográficas
- Aalbers, M. A. 2008. “The Financialization of Home and the Mortgage Market Crisis.” Competition & Change 12(2): 148- 166.
- Aalbers, M. A. 2015. “The Great Moderation, the Great Excess and the global housing crisis.” Journal of Housing Policy 15(1): 43-60.
- Alonso, L. E. 1998. La Mirada cualitativa en sociología: una aproximación interpretativa. Madrid: Fundamentos.
- Alonso, L.E. and C. J. Fernández. 2015. “La razón disciplinaria: los efectos de la financiarización en la vida social.” Gaceta sindical: reflexión y debate 24: 95-110.
- Barnett, C. 2001. “Culture, Geography, and the Arts of Government.” Environment and Planning D: Society and Space 19(1): 7-24.
- Beck, U. 2013. La sociedad del riesgo: hacia una nueva modernidad. Barcelona: Paidós Surcos 25.
- Boyer, R. 2005. “From Shareholder Value to CEO Power: The Paradox of the 1990s.” Competition & Change 9: 7-47.
- Brown, W. 2006. “American Nightmare: Neoliberalism, Neoconservatism, and Democratization.” Political Theory 34(6): 690-714.
- Brown, W. 2015. Undoing the Demos. Massachusetts: The MIT Press.
- Callon, M. 2005. “Why virtualism paves the way to political impotence: A reply to Daniel Miller’s critique of The laws of the market.” Economic Sociology: European Electronic Newsletter 6(2): 3-20. Accessed September 2019 (https://www.econstor.eu/bitstream/10419/155843/1/ vol06-no02-a2.pdf)
- Chaves-Avila, R. and T. Savall-Morera. 2019. “The Social Economy in a Context of Austerity Policies: The Tension Between Political Discourse and Implemented Policies in Spain.” VOLUNTAS: International Journal of Voluntary and Nonprofit Organizations 30(3): 487-498.
- Crotty, J. 2003. “The Neoliberal Paradox: The Impact of Destructive Product Market Competition and Impatient Finance on Nonfinancial Corporations in the Neoliberal Era.” Review of Radical Political Economics 35(3): 271-279.
- Cutler, T. and B. Waine. 2001. “Social Insecurity and the Retreat from Social Democracy: Occupational Welfare in the Long Boom and Financialization.” Review of International Political Economy 8: 96-118.
- Dardot, P. and C. Laval. 2015. La nueva razón del mundo: Ensayo sobre la sociedad neoliberal. Barcelona: Gedisa.
- Davis, M. and L. Cartwright. 2019. “Deferred Lives: Money, Debt, and the Financialized Futures of Young Temporary Workers.” Pp. 91-118 in The Sociology of Debt. Bristol: Policy Press.
- Dean, M. 2014. “Rethinking neoliberalism.” Journal of Sociology 50(2): 150-163.
- Duménil, G. and D. Lévy. 2001. “Costs and Benefits of Neoliberalism: A Class Analysis.” Review of International Political Economy 8(4): 578-607.
- Feher, M. 2009. “Self-Appreciation; or, the Aspirations of Human Capital.” Public Culture 21(1): 21-41.
- Fernández, C.J. and M. Medina-Vicent. 2017. “Los nuevos discursos del management: difusión, impactos y resistencias.” Recerca, Revista de Pensament i Anàlisi 20: 7-14.
- Foucault, M. 2009. El nacimiento de la biopolítica: curso del Collège de France (1978-1979). Madrid: Akal.
- Froud, J.; C. Haslam; S. Johal and K. Williams. 2002. “Cars after Financialisation: A Case Study in Financial Under-Performance, Constraints and Consequences.” Competition and Change 6(1): 13-41.
- Gibbs, G. 2012. El análisis de datos cualitativos en investigación cualitativa. Madrid: Morata.
- Giddens, A. 1995. Modernidad e identidad del yo. Barcelona: Península.
- Han, B. 2018. La sociedad del cansancio. Barcelona: Herder.
- Harvey, D. 2007. Breve historia del neoliberalismo. Madrid: Akal.
- Krippner, G. 2005. “The Financialization of the American Economy.” Socio-Economic Review 3: 173-208.
- Lai, K.P.Y. 2017. “Unpacking financial subjectivities: Intimacies, governance and socioeconomic practices in financialisation.” Environment and Planning D: Society and Space 35(5): 913-932.
- Langley, P. 2006. “The Making of Investor Subjects in Anglo- American Pensions.” Environment and Planning D: Society and Space 24: 919-934.
- Langley, P. 2007. “Uncertain Subjects of Anglo-American Financialization.” Cultural Critique 65: 67-91.
- Langley, P. and A. Leyshon. 2012. “Financial subjects: Culture and materiality.” Journal of Cultural Economy 5(4): 369-373.
- Lazonick, W. and M. O’Sullivan. 2000. “Maximising shareholder value: a new ideology for corporate governance.” Economy & Society. 29(1): 13-35.
- Lazzarato, M. 2013. La fábrica del hombre endeudado: Ensayo sobre la condición neoliberal. Buenos Aires: Amorrortu.
- Lazzarato, M. 2015. Gobernar a través de la deuda: Tecnologías de poder del capitalismo neoliberal. Buenos Aires: Amorrortu.
- Lee, S. M. 2008. “What is neo-liberalism?” Socio-Economic Review 6(4): 703-731.
- Mackenzie, D. 2009. Material markets: How Economic Agents are Constructed. New York: Oxford University Press.
- Martin, R. 2002. Financialization of Daily Life. Philadelphia: Temple University Press.
- Massó, M. and M. Pérez-Yruela. 2017. “Financialisation in Spain: The Emergence of a New Accumulation Model?” Revista Española de Investigaciones Sociológicas 157: 103-122.
- Mirowski, P. 2009. “Postface” Pp. 417-455 in The Road from Mont Pèlerin: the Making of the Neoliberal Thought Collective. 1st ed. Cambridge, MA: Harvard University Press.
- Mulcahy, N. 2017. “Entrepreneurial subjectivity and the political economy of daily life in the time of finance.” European Journal of Social Theory 20(2): 216-235.
- Read, J. 2009. “A Genealogy of Homo-oeconomicus: Neoliberalism and the Production of Subjectivity.” Foucault Studies 6: 25-36.
- Serrano Pascual, A. and C. J. Fernández Rodríguez. 2018. “De La Metáfora Del Mercado a La Sinécdoque Del Emprendedor: La Reconfiguración Política Del Modelo Referencial De Trabajador.” Cuadernos de Relaciones Laborales 36(2): 207-224.
- Smith, A. 2017. Investigación sobre la naturaleza y causas de la riqueza de las naciones. México D.F.: Fondo de Cultura Económica.
- Standing, G. 2013. El precariado: una nueva clase social. Barcelona: Ediciones de Pasado y Presente.
- Stockhammer, E. 2012. “Financialization, Income Distribution and the Crisis.” Investigación Económica 71(279): 39-70.
- Van der Zwan, N. 2014. “Making sense of financialization.” Socio-Economic Review 12: 99-129.
- Verd, J. M. 2001. “Itineario biográfico, recursos formativos y empleo. Una aproximación integrada de carácter teórico y metodológico.” Ph.D. dissertation, Departament de Sociologia, Universitat Autònoma de Barcelona, España.
- Verdouw, J. J. 2016. “The subject who thinks economically? Comparative money subjectivities in neoliberal context.” Journal of Sociology 53(3): 523-540.
- Zelizer, V. 2015. Vidas económicas: cómo la cultura da forma a la economía. Madrid: Centro de Investigaciones Sociológicas.