Credit as a source of debts and wealth / Kredyt jako źródło długów i dobrobytu
Journal Title: Przegląd Socjologiczny - Year 2016, Vol 0, Issue 3
Abstract
This article analyses how easily accessible financialised consumer credit changes the social character of money as such. It is clear that contemporary consumer credit markets entail dangers of increasing levels of over-indebtedness, as well as opportunities for the growing economic independence of citizens. Financialised consumer credit is characterised by three factors: complex regulation, the option of resale of debts, and high costs for the customer. My main argument is that the consequences of financialised consumer credit markets can be governed by arranging institutions properly. In other words, it is argued that financialised consumer credit is neither good nor bad in general, but that its social acceptability will be the outcome of a complex regulatory arrangement. To demonstrate the options of such an arrangement, this article investigates the market conditions in Germany and compares them to some features of Poland.
Authors and Affiliations
Jürgen Schraten
Keywords
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- EP ID EP200355
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