Households are pushed into financial markets that promise lifestyle advancement.

Evidence

Households were pushed to adjust their lifestyles in response to this new economic order. But financial markets also dangled the prospect of new opportunities to maintain or enhance one’s lifestyle (Rajan, 2010). Indeed, popular discourses about financial investment tend to frame these markets as a ‘brave new world’ in which entrepreneurial agents can advance themselves through active management of their financial and human capital (Langley, 2008). So, for example, Dwyer et al. (2011) provocatively demonstrate that young people who use credit cards and student loans to enhance their life chances experience positive changes in their self-esteem. — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 34

Categorization

• XREF: Connects to the reader’s financialization-of-everyday-life thread, and to the notion of the ‘entrepreneurial self’ — plausibly resonates with Parable of the Sower’s self-reliant protagonists managing their own advancement. — connects to: Financialization also operates as a cultural shift toward entrepreneurial self-management of household finances. — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 19; Households signal financialization through risk-taking, relaxed debt attitudes, and speculative strategies — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 48; Top-end wealth concentration intensifies pressure on lower households to maintain relative lifestyles. — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 40 (+11 more)

Related

• Households signal financialization through risk-taking, relaxed debt attitudes, and speculative strategies (similarity 0.88)
• Household financialization involves adopting new entrepreneurial mindsets, not just buying more financial products. (similarity 0.88)
• Financialization also operates as a cultural shift toward entrepreneurial self-management of household finances. (similarity 0.87)
• Financialization forced households to adopt a proactive finance culture beyond just consuming more debt. (similarity 0.87)
• The erosion of pensions and benefits pushed households toward commercial financial products. (similarity 0.86)
• Households adopted active financial management under either necessity, opportunity, or both. (similarity 0.85)
• Financialization expanded by selling financial products directly to households (similarity 0.85)
• Households borrowed heavily to preserve their lifestyles amid economic insecurity. (similarity 0.83)
• Financial markets reshaped households, corporations, and states over the past 30 years. (similarity 0.83)
• Financialized risk-taking is concentrated in the upper middle class, not spread across all earners (similarity 0.82)
• Research on household financialization remains fragmented across separate markets (similarity 0.81)
• Households in social democracies face pressure to adopt finance culture too. (similarity 0.81)
• Financialization of households is stratified by class, not uniform (similarity 0.81)
• The shift to 401(k) plans converted households into stock market participants. (similarity 0.81)
• Financialized cultural attitudes may result from, not drive, expanded financial services. (similarity 0.80)

Broader Connections

• Households signal financialization through risk-taking, relaxed debt attitudes, and speculative strategies #expands (0.85) — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 48
• Financialization forced households to adopt a proactive finance culture beyond just consuming more debt. #expands (0.85) — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 46
• The erosion of pensions and benefits pushed households toward commercial financial products. #exemplifies (0.80) — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 55
• Households adopted active financial management under either necessity, opportunity, or both. #expands (0.80) — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 105
• Financialization redraws who supplies life’s basic needs, shifting welfare from state to markets #expands (0.80) — Natascha van der Zwan, Making Sense of Financialization, 64
• Top-end wealth concentration intensifies pressure on lower households to maintain relative lifestyles. #corroborates (0.75) — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 40
• The shift to 401(k) plans converted households into stock market participants. #exemplifies (0.75) — Gerald F. Davis & Suntae Kim, Financialization of the Economy, 54
• Financialization means finance’s logics penetrate the fabric of everyday life #expands (0.75) — Max Haiven, Cultures of Financialization, 72
• Financialization is capitalism’s most advanced mode of harnessing consumer agency and imagination #complicates (0.75) — Max Haiven, Cultures of Financialization, 362