Consumer Credit and Debt

Hadrien Saiag (1)

1 IIAC - Institut interdisciplinaire d'anthropologie du contemporain

Abstract: The global crisis that erupted in 2007-8 clearly exposed that debt with financial institutions has become a key element of household social reproduction in most parts of the world. One way to analyse how this situation impacts on people’s lives is to investigate the very nature of debt (its ‘essence’), which is often conceived as intrinsically violent. However, most anthropologists consider how people manage their debt and take a situated approach to debt in context. Their focus on people’s financial practices takes a broad view of consumer credit as any number of monetary debts that households incur to make ends meet. Their examination of how debt is managed within the household points up that consumer credit is often used to sustain meaningful social relations, although this can trigger a debt spiral. This spotlight on how people’s financial practices relate to broader historical and social contexts shows that the rise of consumer credit is instrumental in reshaping class, racial and gender relations in their material and moral dimensions, and that people can be found to resist debt in many ways. Although these trends in the anthropological literature make for a rich understanding of debt relations, much could still be done to understand why people in most settings complain about their debts, but do not openly rebel against them.

Mots clés: credit; debt; social reproduction; social protection; resistance; exploitation; morality; class relations

Domaines: Anthropologie sociale et ethnologie; Economies et finances; Sociologie

Hadrien Saiag. Consumer Credit and Debt. Oxford Research Encyclopedia of Anthropology, Oxford University Press, 2020. ⟨halshs-03095993⟩