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Governing Poverty in a Neoliberal Age: New Labour and the Case of Financial Exclusion

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  • Donncha Marron

Abstract

In the UK, from the 1990s, the concept of financial exclusion emerged as a focus of policymaking concern. In part, this reflects the growing scale and complexity of personal finance markets and how these are increasingly interwoven into the everyday lives of individuals. However, it is also argued that the development of the concept of financial exclusion reflects preeminent neoliberal discourses that emphasise the centrality of individual responsibility, autonomy and consumer participation within markets. In 2004 the then Labour government, in conjunction with academic experts, financial institutions and other organisations, established a project of financial inclusion in relation to three key domains: banking, affordable credit and financial capability. The consequence, it is suggested here, has not been so much to alleviate inequality as to nurture the poor to be precautionary, risk averse financial subjects. This stands in contrast with the virtues of enterprise and risk-taking called up in middle-class investor subjects.

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  • Donncha Marron, 2013. "Governing Poverty in a Neoliberal Age: New Labour and the Case of Financial Exclusion," New Political Economy, Taylor & Francis Journals, vol. 18(6), pages 785-810, December.
    • Handle: RePEc:taf:cnpexx:v:18:y:2013:i:6:p:785-810
    DOI: 10.1080/13563467.2012.753043
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    Cited by:

    1. Gupta, Suraksha & Kanungo, Rama Prasad, 2022. "Financial inclusion through digitalisation: Economic viability for the bottom of the pyramid (BOP) segment," Journal of Business Research, Elsevier, vol. 148(C), pages 262-276.
    2. Ozili, Peterson Kitakogelu, 2022. "Financial inclusion in Nigeria: an overview," MPRA Paper 113572, University Library of Munich, Germany.
    3. Duan, Wenjie & Yu, Xinhang & Wang, Zichuan & Chai, Xue, 2024. "Financial resilience-focused program: A single group pretest–posttest intervention to change financial risk perception among teenagers in an ethnic minority poverty-stricken area in China," Children and Youth Services Review, Elsevier, vol. 164(C).
    4. Lucy Baker, 2021. "Everyday experiences of digital financial inclusion in India's ‘micro-entrepreneur’ paratransit services," Environment and Planning A, , vol. 53(7), pages 1810-1827, October.
    5. Abbas Ziafati Bafarasat, 2024. "Defining their real problems, getting public and policy attention: Global struggles of deprived communities for sustainable development," Sustainable Development, John Wiley & Sons, Ltd., vol. 32(6), pages 7215-7225, December.
    6. Gallego-Losada, María-Jesús & Montero-Navarro, Antonio & García-Abajo, Elisa & Gallego-Losada, Rocío, 2023. "Digital financial inclusion. Visualizing the academic literature," Research in International Business and Finance, Elsevier, vol. 64(C).
    7. Fanny Salignac & Julien Hanoteau & Ioana Ramia, 2022. "Financial Resilience: A Way Forward Towards Economic Development in Developing Countries," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 160(1), pages 1-33, February.
    8. Shahid Manzoor Shah & Amjad Ali, 2022. "A Survey on Financial Inclusion: Theoretical and Empirical Literature Review," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(4), pages 310-330, December.
    9. Cheng, Qiongwen & Zhao, Xiaoge & Zhong, Shihu & Xing, Yudan, 2024. "Digital financial inclusion, resident consumption, and urban carbon emissions in China: A transaction cost perspective," Economic Analysis and Policy, Elsevier, vol. 81(C), pages 1336-1352.
    10. Ghafran, Chaudhry & Yasmin, Sofia, 2024. "Beyond conventional financialization: Intersectional insights and Indigenous responses to financial inequality in the UK," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 100(C).
    11. Julie Birkenmaier & Qiang Fu, 2018. "Household Financial Access and Use of Alternative Financial Services in the U.S.: Two Sides of the Same Coin?," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 139(3), pages 1169-1185, October.

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