chapter  8
19 Pages

Financial Crises: Coping with Income Insecurity

The ability to avoid, withstand or recover from a fi nancial crisis is not just determined by the level of income but also by the structure of social income. A feature of globalisation, emphasised throughout this analysis, is that the structure of social income has been evolving, with old forms of non-monetary community support withering while new forms emerge, partly due to the commercialisation and growth of fi nancial intermediation. In this chapter, we consider the situation from another angle.