Jump to ContentJump to Main Navigation
Social Policy Review 26Analysis and debate in social policy, 2014$
Users without a subscription are not able to see the full content.

Kevin Farnsworth, Zoë Irving, and Menno Fenger

Print publication date: 2014

Print ISBN-13: 9781447315568

Published to Policy Press Scholarship Online: January 2015

DOI: 10.1332/policypress/9781447315568.001.0001

Show Summary Details

Creating a Legacy of Long-Term Indebtedness: the Toxic Impact of Payday Loans in Wolverhampton

Creating a Legacy of Long-Term Indebtedness: the Toxic Impact of Payday Loans in Wolverhampton

Chapter:
(p.137) Eight Creating a Legacy of Long-Term Indebtedness: the Toxic Impact of Payday Loans in Wolverhampton
Source:
Social Policy Review 26
Author(s):

Steve Iafrati

Publisher:
Policy Press
DOI:10.1332/policypress/9781447315568.003.0008

Morals and markets is the theme in Chapter Eight, which examines the rise of payday loans as a means to satisfy financial needs outside the realms of statutory provision. In the context of the geographically uneven incidence of poverty and the multiple economic disadvantages faced by deindustrialised locales in the UK, this chapter focuses attention on the essential problems of household strategies to deal with poverty, but in particularly challenging times, given the combination of cost-of-living increases, frozen benefit levels and reduced eligibility for housing support. While payday loans have been the subject of much recent policy and media attention, the case study of Wolverhampton presented in this chapter demonstrates the inadequacy of supply-led regulation in the face of increasing demand, and a lack of willingness on the part of policy makers to recognise the structural causes of this demand. The final discussion further reflects on the alternative possibilities for policy within the limits of ‘responsible capitalism.’

Keywords:   payday loans, poverty, deindustrialised, households, regulation

Policy Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.