- Copyright Page
- About the Editors
- About the Contributors
- Introduction: Situating Consumers and Consumption
- The Social Embeddedness of Marketing
- The Sharing Economy
- Prosumption: Contemporary Capitalism and the “New” Prosumer
- Consumer Culture Theory
- A Sociological Critique and Reformulation of Brands
- Relational Work and Consumption
- Meaningful Objects and Consumption
- Bourdieu, Distinction, and Aesthetic Consumption
- Taste, Legitimacy, and the Organization of Consumption
- Cultural Markets and Consecration
- Emotions in Consumer Studies
- Young People and Consumption: The Changing Nature of Youth Consumption in an Era of Uncertainty and Digital Experience
- Consumption <i>as</i> Production: Data and the Reproduction of Capitalist Relations
- Household Finances and Credit Visibility
- The Cultivation of Market Behaviors and Economic Decisions: Calculation, Qualculation, and Calqulation Revisited
- Consumer Transactions: Consumer Banking
- Consumer Credit Surveillance
- Omnivorousness, Distinction, or Both?
- The Development of Ethnoracial Market Segments: Lessons from the US Latino Media Market
- Race and Consumer Inequality
- Fashion and Its Gendered Agendas
- Gentrification and Urban Inequality
- Branding National Identity in an Unequal World
- Subcultures and Consumption
- Taste, Sensation, and Skill in the Sociology of Consumption
- Food Tastes
- Gender as a Critical Perspective in Marketing Practice
- Consumer Cities, Scenes, and Ethnic Restaurants
- Ethical Consumption
- Affluence, Anti-Consumerism, and the Politics of Consumption
- Linking Environmental Sustainability and Consumption
Abstract and Keywords
This chapter addresses sociological approaches to household financial practices and credit visibility. First, the chapter identifies how social networks lead consumers to make significant decisions about spending, saving, and asset building. Sometimes financial decisions that appear to be the result of poor information turn out to be the effects of the individual’s position within a social network, along with the expectations and pressures associated with that position. Second, the chapter explains how consumers manage their social relationships through their consumption decisions in a process of relational work, but their relationship management strategies also reflect new ways of accounting for their spending decisions as they participate in various rituals and enable their socially significant others to do so as well. Consumers begin to mark, track, and design roughly shared decision rules about how to prioritize household financial decisions for these rituals in a process of relational accounting. The chapter concludes with the role that consumer credit scoring plays in shaping the life chances of households and how these effects differ by race, gender, and neighborhood.
Frederick F. Wherry is Professor of Sociology at Princeton University and Director of the Dignity and Debt Network. He served as the 2018 President of the Social Science History Association and past Chair of both the Economic Sociology and the Consumers and Consumption Sections of the American Sociological Association. He is coauthor of Credit Where It’s Due: Rethinking Financial Citizenship, editor of the four-volumeSage Encyclopedia of Economics and Society, and the author or editor of six other books or volumes. He has served in an advisory capacity to the Boston Federal Reserve and the Lloyds Banking Group Center for Responsible Business.
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