Indebted Societies - Wiedemann, Andreas
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"Many people these days are no strangers to debt. People borrow money to pay for childcare, to get training, or to take out student loans to attend college and university. They take out mortgages to buy homes, perceived by many as the cornerstone of a middle-class life because homeownership helps build wealth and unlocks access to vibrant labor markets and neighborhoods with good schools. But people also go into debt to address financial gaps that emerge because of volatile incomes, rising expenditures, and limited support from the welfare state. In short, financial markets are now woven…mehr

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Produktbeschreibung
"Many people these days are no strangers to debt. People borrow money to pay for childcare, to get training, or to take out student loans to attend college and university. They take out mortgages to buy homes, perceived by many as the cornerstone of a middle-class life because homeownership helps build wealth and unlocks access to vibrant labor markets and neighborhoods with good schools. But people also go into debt to address financial gaps that emerge because of volatile incomes, rising expenditures, and limited support from the welfare state. In short, financial markets are now woven deeply into the social fabric of our communities, societies, and economies. They provide opportunities that mitigate how social status, parental wealth, or skills affect socioeconomic outcomes. But as more and more people rely on financial products to borrow, save, and invest, the downside risks become more visible.When the Swiss central bank in January 2015 unexpectedly lifted the peg off the Swiss Franc against the Euro, which had kept the value of the Franc stable by fixing the exchange rate, the repercussions were felt way beyond Switzerland. Homeowners in Eastern Europe who had taken out mortgages denominated in Swiss Francs rather than in their local currencies suddenly saw their monthly debt repayments increase by more than 20 percent as the value of the Swiss Franc soared"--
Autorenporträt
Andreas Wiedemann is Assistant Professor of Political Science and International Affairs at Princeton University and the School for Public and International Affairs. He is also a faculty affiliate with the Niehaus Center for Globalization and Governance and the Center for the Study of Democratic Politics at Princeton. He studies the comparative political economy of advanced democracies, focusing on economic inequality, redistribution and social policies, and electoral politics. His most recent work has been published in the American Journal of Political Science and the British Journal of Political Science. Wiedemann's research has been supported by the Social Science Research Council, the Andrew W. Mellon Foundation, the Horowitz Foundation for Social Policy, and the Krupp Foundation, among others. He received the Gabriel A. Almond Award for the Best Dissertation in Comparative Politics and the Ernst B. Haas Award for the best dissertation on European Politics and Societies from the American Political Science Association.