Private debt and neoliberal financial capitalist Welfare

Abstract

Replicating and updating the analysis made by Crouch on the relationship between employment, consuption and indebtedness in Europe, the authors try to point out a series of issues dealing with the “surviveness” of the theoretical and institutional model of welfare produced by neoliberalisation and basically guaranted by household-indebtedness mechanisms. As a matter of facts, the same condition able to guarantee stability and steady growth to that model is nowadays no longer sustainable, so to lead some scholars (Crouch himself) to sentence that the model of welfare produced by neoliberalisation has come to its historical conclusion with the 2008 crisis.