Precarity breeds displaced anger aimed at the vulnerable, not at finance’s architects

Evidence

Ironically, it is not easily displaced onto the architects and beneficiaries of financialized capitalism, but instead gravitates towards the more precarious, the more abject: they who call us back into the shared precarious “species being” we have bought into the system to avoid. While this may or may not manifest itself in the form of new nationalisms, it will manifest itself in the form of hatred towards the homeless, towards refugees, towards welfare recipients and towards others. — Max Haiven, Cultures of Financialization, 226

Categorization

• XREF: Directly bridges toward the cultural argument that deWaard extends — finance produces existential displacement that ricochets onto scapegoats rather than the system’s beneficiaries. — connects to: Blaming individual borrowers hides a systemic precariousness produced by finance — Max Haiven, Cultures of Financialization, 208; Everyday financialized actors co-produce precarity alongside macro institutions — Max Haiven, Cultures of Financialization, 214; Shared frustrations from difficult life conditions precede collective scapegoating. — John F. Dovidio, Peter Glick, Laurie A. Rudman, On the Nature of Prejudice: Fifty Years…, 1591
• SEED: Angle: how financialized precarity channels resentment toward refugees/homeless/welfare recipients rather than toward banks — the psychodynamics of austerity politics.

Broader Connections

• Everyday financialized actors co-produce precarity alongside macro institutions #corroborates (0.80) — Max Haiven, Cultures of Financialization, 214
• Shared frustrations from difficult life conditions precede collective scapegoating. #corroborates (0.75) — John F. Dovidio, Peter Glick, Laurie A. Rudman, On the Nature of Prejudice, 1591