Policy Press

Rethinking Financial Behaviour

Rationality and Resistance in the Financialization of Everyday Life

By Ariane Agunsoye

Published

Nov 6, 2024

Page count

232 pages

Browse the series

Rethinking Work, Ageing and Retirement

ISBN

978-1529232257

Dimensions

234 x 156 mm

Imprint

Bristol University Press

Published

Nov 6, 2024

Page count

232 pages

Browse the series

Rethinking Work, Ageing and Retirement

ISBN

978-1529232271

Dimensions

234 x 156 mm

Imprint

Bristol University Press

Published

Nov 6, 2024

Page count

232 pages

Browse the series

Rethinking Work, Ageing and Retirement

ISBN

978-1529232271

Dimensions

234 x 156 mm

Imprint

Bristol University Press
Rethinking Financial Behaviour

Pension policy in the UK and US is designed on the assumption that people make informed financial decisions, consistently invest in pensions and manage diverse portfolios. Deviating from this is often deemed irresponsible and irrational. However, this assumption overlooks uncontrollable factors like caring duties, employment breaks or income limitations. Even when individuals act as expected, unpredictable market shifts can hinder long-term planning.

This book redefines deviations to “rational behaviour” as logical responses to a dysfunctional system. Challenging existing theoretical discussions and policy approaches, it proposes a fresh perspective on rationality when it comes to financial practices and policy.

“Thinking beyond the ‘rational’ investor or ‘irresponsible’ financial behaviour, Agunsoye’s interdisciplinary approach to financialisation and everyday lives offers fresh insights into how households make sense of their savings and investment decisions. By highlighting the constraints and contradictions intrinsic to the current asset-based welfare system, this book also challenges us to consider what kind of policy approaches would be required to address financial inequalities, particularly due to gender and ethnicity.” Karen P.Y. Lai, Durham University

Ariane Agunsoye is Senior Lecturer in Economics at Goldsmiths, University of London.

Part 1: Everyday Financial Subjects

1. Introduction

2. Willing and Unwilling Subjects of Everyday Financialization

Part 2: Construction of the Everyday Asset Manager

3. Normalizing Asset Accumulation

4. Becoming an Everyday Asset Manager

Part 3: Being an Everyday Asset Manager

5. The Conduct of the Everyday Asset Manager

6. The Disciplining Effect of Asset Norms

Part 4: Variegated Financial Subjectivities in the UK

7. Coping with Constraints

8. Managing Contradictions and Constraints

9. Conclusion

Appendix A: Income Thresholds and Interviewee Profiles

Appendix B: Analysis and Approach to Data