Abstract:
Based on the French case, this article aims to challenge the concept of “financialization of daily life”. This notion does not perfectly describe the transformation of money management experienced by French households; compared to other developed countries, their money is kept at a remove from financial markets, particularly as the French retail banking system, built in the 1960s, is designed to “definancialize” and the French welfare state maintains its protective position. The French economy is nonetheless deeply financialized, with great consequences on job and income instability. Public authorities tackle the problem from this angle, with policies increasingly focused on households’ money. Social work is expected not only to be an intermediary between individuals and social legislation, but to aid households in navigating their engagements with commercial entities. This leads us to claim that public intervention is becoming monetized.
Keywords:
Financialization of daily life; France; Household’s economy; Social work; Credit