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How the upper and middle classes embraced a culture of household debt and aggressive financial risk taking

Goldstein, Adam and Fligstein, Neil (2015) How the upper and middle classes embraced a culture of household debt and aggressive financial risk taking. USApp– American Politics and Policy Blog (11 May 2015). Website.

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Abstract

The last three decades have seen a growing role for financial markets and institutions in the economy, with households included in this trend. But how have households changed their attitudes and behaviors in relation to financial markets? In new research which looks at survey data on consumer finance, Adam Goldstein and Neil Fligstein find evidence of a new household ‘finance culture’. While financial firms sought out customers of all incomes, the upper and middle classes have embraced household borrowing and have become much more likely to take financial risks.

Item Type: Online resource (Website)
Official URL: http://blogs.lse.ac.uk/usappblog/
Additional Information: © 2015 The Authors; Online
Divisions: LSE
Subjects: H Social Sciences > HG Finance
H Social Sciences > HT Communities. Classes. Races
Sets: Collections > LSE American Politics and Policy (USAPP) Blog
Date Deposited: 05 Jun 2015 08:48
Last Modified: 04 Jul 2020 23:12
URI: http://eprints.lse.ac.uk/id/eprint/62202

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