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

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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)

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.

Suggested Citation

  • Bruno Tinel, 2021. "Les ménages au cœur de la financiarisation. Sur Risking Together, de D. Bryan et M. Rafferty," Post-Print halshs-03389630, HAL.
    • Handle: RePEc:hal:journl:halshs-03389630
    DOI: 10.3917/amx.070.0149
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-03389630
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    Keywords

    Produits dérivés; titrisation; financiarisation; ménages; transfert du risque Derivatives; securitisation; financialization; households; risk transfer;
    All these keywords.

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