Financialization of Life: A Review and Critic from Perspective of Individuals

Globalization, neo-liberalization, and financialization are three popular concepts used to understand and explain the political, social, and economic transformations that have taken place worldwide since the 1970s. While researchers and thinkers are sometimes criticized for their tendency to create new concepts (especially those ending with the "-ization" suffix), almost everyone agrees that this period is distinct from previous ones in terms of its unique dynamics. Among these three concepts, financialization, the youngest, has gained more attention after the 2007-2008 global financial crisis. In this study, the topic of financialization will be explored within the framework of how individuals are affected by and interact with the financial system.