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9780415822671

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This penetrating and original book introduces a new concept to the late-neoliberal lexicon, debtfare, as credit contracts displace social contracts, entrenching a parasitic poverty industry. A compelling and significant contribution. Jamie Peck, Canada Research Chair in Urban & Regional Political Economy, University of British Columbia, Canada. Debtfare States and the Poverty Industry charts the runaway development of privately created money at the bottom of the dualizing class structure. Its skillfully shows how the diffusion of consumer debt --in the form of credit cards, student loans, and payday loans in the United States, and housing finance and microfinance in Mexico-- operates not to support but to submit and discipline the growing ranks of the precariously employed. In the grand tradition of Marx, Simmel, Mauss and Harvey, Soedoerberg reveals the powers and paradoxes of credit as an instrument of capital accumulation, class regulation, and symbolic subjugation. A timely and stimulative contribution to the scientific and civic reevaluation of the role of finance in the workings of neoliberalism as a distinctive form of rule. Loic Wacquant, author of Urban Outcasts and Punishing the Poor: The Neoliberal Government of Social Insecurity

This penetrating and original book introduces a new concept to the late-neoliberal lexicon, debtfare, as credit contracts displace social contracts, entrenching a parasitic poverty industry. A compelling and significant contribution. Jamie Peck, Canada Research Chair in Urban & Regional Political Economy, University of British Columbia, Canada.

This penetrating and original book introduces a new concept to the late-neoliberal lexicon, debtfare, as credit contracts displace social contracts, entrenching a parasitic poverty industry. A compelling and significant contribution. Jamie Peck, Canada Research Chair in Urban & Regional Political Economy, University of British Columbia, Canada. Debtfare States and the Poverty Industry charts the runaway development of privately created money at the bottom of the dualizing class structure. Its skillfully shows how the diffusion of consumer debt --in the form of credit cards, student loans, and payday loans in the United States, and housing finance and microfinance in Mexico-- operates not to support but to submit and discipline the growing ranks of the precariously employed. In the grand tradition of Marx, Simmel, Mauss and Harvey, Soedoerberg reveals the powers and paradoxes of credit as an instrument of capital accumulation, class regulation, and symbolic subjugation. A timely and stimulative contribution to the scientific and civic reevaluation of the role of finance in the workings of neoliberalism as a distinctive form of rule. Loic Wacquant, author of Urban Outcasts and Punishing the Poor: The Neoliberal Government of Social Insecurity. Debtfare is a necessary term and book to grasp the present moment. A political economy of the baleful poverty industry it provides a conceptual antidote to coercive financial inclusion by enlisting the force of Marx, Money and the State. Randy Martin, Faculty Director of Art and Public Policy, New York University, USA. Here is a radical inquiry that does not fall into the easy language of more -more debt, more poverty, and on. Rather than documenting the sufferings of the poor, it examines the machinery that combines states and the poverty sector - a kind of new state-industrial complex. This unflinching examination is a major contribution to our understanding of poverty, business, and the state. Saskia Sassen, Robert S. Lynd Professor of Sociology, Columbia University, author of Expulsions.

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Susanne Soederberg is Professor and Canada Research Chair in Global Political Economy at the Department of Global Development Studies, cross appointed with the Department of Political Studies, Queen’s University, Canada.

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