Les ménages au cœur de la financiarisation. Sur Risking Together, de D. Bryan et M. Rafferty

Bruno Tinel ()
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Bruno Tinel: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: In Risking Together, Bryan and Rafferty think in the manner of behavioural finance, but they think against it and invent Marxist behavioural finance. They show how households' subjectivity is reshaped by finance in their daily life, and how they unwittingly have become a key player in the production process of derivatives. Households are now integrated into finance on the supply side, through the securitization of their debt but also of their payments, and on the demand side through their savings. Households have collectively become net risk absorbers. What about the systemic issues of the financial loop in which households are now inserted? Considering the omnipotence of finance that transfers risks to households, the social institutionalization of default risk is now required.

Keywords: Produits dérivés; titrisation; financiarisation; ménages; transfert du risque Derivatives; securitisation; financialization; households; risk transfer (search for similar items in EconPapers)
Date: 2021-08-12
New Economics Papers: this item is included in nep-ban and nep-hme
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Published in Actuel Marx, 2021, n° 70 (2), pp.149-167. ⟨10.3917/amx.070.0149⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:halshs-03389630

DOI: 10.3917/amx.070.0149

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