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Financialization and the rise of atypical work

Author

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  • Giorgos Gouzoulis
  • Panagiotis (Takis) Iliopoulos
  • Giorgos Galanis

Abstract

The current literature on financialization and the labour process focuses disproportionately on how corporate financialization induces the use of atypical work and largely overlooks the role of household financialization. This paper presents several mechanisms through which household debt and pension fund financialization increase the financial insecurity of employees, which, in turn, can curb their resistance to accepting such work contracts. To assess our arguments, we estimate the effects of corporate and household financialization on involuntary part‐time and temporary employment, using a panel dataset of OECD economies. Our findings provide robust support that financialization increases significantly non‐standard employment rates for the total workforce and women, but less for older employees.

Suggested Citation

  • Giorgos Gouzoulis & Panagiotis (Takis) Iliopoulos & Giorgos Galanis, 2023. "Financialization and the rise of atypical work," British Journal of Industrial Relations, London School of Economics, vol. 61(1), pages 24-45, March.
    • Handle: RePEc:bla:brjirl:v:61:y:2023:i:1:p:24-45
    DOI: 10.1111/bjir.12701
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    1. Giorgos Gouzoulis & Panagiotis (Takis) Iliopoulos & Giorgos Galanis, 2025. "EU-induced financialisation and its impact on the Greek wage share, 1999–2021," European Journal of Industrial Relations, , vol. 31(3), pages 287-312, September.
    2. Giorgos Gouzoulis, 2023. "What do indebted employees do? Financialisation and the decline of industrial action," Industrial Relations Journal, Wiley Blackwell, vol. 54(1), pages 71-94, January.
    3. Giorgos Gouzoulis & Giorgos Galanis & Panagiotis (Takis) Iliopoulos, 2024. "Financialisation, shareholder value orientation, and the decline of trade union membership in the EU," Transfer: European Review of Labour and Research, , vol. 30(2), pages 161-179, May.
    4. Po Yin Wong & Giorgos Gouzoulis & Giorgos Galanis, 2025. "Personal Debt Burden and Union Jobs: Evidence from the United States," Working Papers 122, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
    5. Boris Popesko & Shahzad Uddin & David Urban, 2026. "Neoliberalism, Informal Employment and Post-Communist Economies: A Tale of a Debt-Seized Worker," Work, Employment & Society, British Sociological Association, vol. 40(1), pages 175-186, February.
    6. Luigi Salvati & Pasquale Tridico, 2025. "Economic Dynamics of Financial Capitalism: Labour Market Reforms, Welfare State Reduction, and the Impact of Technological Changes," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 68(2), pages 349-366, June.
    7. Po Yin Wong & Giorgos Gouzoulis & Giorgos Galanis, 2026. "Household Debt Burden and Union Jobs: Evidence from a Quasi-Experiment in the United States," Working Papers 123, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
    8. Ricardo Barradas, 2025. "Why are (financialised) workers becoming more resigned and conformist and less claimant? Empirical evidence from Portugal," Economic and Industrial Democracy, Department of Economic History, Uppsala University, Sweden, vol. 46(4), pages 910-941, November.
    9. Maria Cristina Barbieri Góes & Matteo Deleidi & Stefano Di Bucchianico & Luigi Salvati, 2025. "An Empirical Analysis of the Impact of Financialisation on the Rate of Profit for the US (1955–2019)," British Journal of Industrial Relations, London School of Economics, vol. 63(2), pages 354-367, June.

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