Partie ou chapitre de livre
Households and Financialization in Europe
169 - 178 p.
financialization of daily life, risk shift, welfare state, credit
This afterword reviews the key contributions of this collection to the understanding of financialization processes. First, the chapters show the need of analyzing financialization through the way households use the financial products available to them. It highlights their growing exposure to new financial risks over the last two decades. This leads to the second major lesson: that financialization has destabilized previous protection systems. The 2008 crisis proved that the systems offered as replacements did not fulfill their promise. Finally, the geographical and methodological shift of this book contributes to demonstrate that the process of financialization always takes place in accordance with the specificities of societies. Although finance finally transforms the spaces where it is established, it does not proceed like a steamroller but rather through processes of fine penetration into the intimacy of households. This calls for a new perspective on the processes that we think are already well known in the “core countries”.