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Experiments in relational finance : harnessing the social in everyday debt and credit
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Tooker, Lauren and Clarke, Chris (2018) Experiments in relational finance : harnessing the social in everyday debt and credit. Theory, Culture & Society, 35 (3). pp. 57-76. doi:10.1177/0263276417746465 ISSN 0263-2764.
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Official URL: https://doi.org/10.1177/0263276417746465
Abstract
In the wake of successive crises, novel politics and ethics are emerging around attempts to institute a ‘new’ world of finance in the name of social relations. Financial start-ups and development organisations, often working alongside established financial institutions, are experimenting with the ‘social’ in order to create markets and scale up their activities. At the same time, people continue to advance social claims in finance out of concern for others. This article examines the rise, politics and ethics of this experimentation in what we call ‘relational finance’. Our argument is that by rendering the social dimensions of finance explicit, contemporary relational finance makes sociality available for marketisation and politicisation. We illustrate this claim with three examples of mobilisations of the social in everyday lending and borrowing: social collateral, social lending and social debt. Relational finance, we conclude, is far from an unproblematic ‘alternative’ but retains ethical and political potential.
| Item Type: | Journal Article | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Subjects: | H Social Sciences > HG Finance | ||||||||
| Divisions: | Faculty of Social Sciences > Politics and International Studies | ||||||||
| Library of Congress Subject Headings (LCSH): | Finance -- Social aspects, Money -- Social aspects, Financial services industry -- Social aspects, Microfinance -- Social aspects, Loans -- Social aspects | ||||||||
| Journal or Publication Title: | Theory, Culture & Society | ||||||||
| Publisher: | Sage Publications Ltd. | ||||||||
| ISSN: | 0263-2764 | ||||||||
| Official Date: | 1 May 2018 | ||||||||
| Dates: |
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| Volume: | 35 | ||||||||
| Number: | 3 | ||||||||
| Number of Pages: | 35 | ||||||||
| Page Range: | pp. 57-76 | ||||||||
| DOI: | 10.1177/0263276417746465 | ||||||||
| Status: | Peer Reviewed | ||||||||
| Publication Status: | Published | ||||||||
| Access rights to Published version: | Restricted or Subscription Access | ||||||||
| Date of first compliant deposit: | 5 September 2017 | ||||||||
| Date of first compliant Open Access: | 6 September 2017 | ||||||||
| Funder: | Leverhulme Trust (LT), European Commission (EC) | ||||||||
| Grant number: | ECF 2014-241 | ||||||||
| Related URLs: |
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