The Lived Experience of Financialization at the UK Financial Fringe

The financialization of everyday life has received considerable attention since the 2008 global financial crisis. Financialization is thought to have created active financial subjects through the ability to participate in mainstream financial services. While the lived experience of these mainstream financial subjects has been the subject of close scrutiny, the experiences of financial subjects at the financial fringe have been rarely considered. In the UK, for example, the introduction of High-Cost, Short-Term Credit [HCSTC] or payday loan regulation was designed to protect vulnerable people from accessing unaffordable credit. Exploring the impact of HCSTC regulation is important due to the dramatic decline of the high-cost credit market which helped meet essential needs in an era of austerity. As such, the paper examines the impact of the HCSTC regulation on sixty-four financially marginalized individuals in the UK that are unable to access payday loans. First, we identify the range of socioeconomic strategies that individuals employ to manage their finances to create a typology of financial subjectivity at the financial fringe. Second, we demonstrate how the temporal and precarious nature of financial inclusion at the financial fringe adds nuance to existing debates of the everyday lived experience of financialization

The Lived Experience of Financialization at the UK Financial Fringe

The financialization of everyday life has received considerable attention since the 2008 global financial crisis. Financialization is thought to have created active financial subjects through the ability to participate in mainstream financial services. While the lived experience of these mainstream financial subjects has been the subject of close scrutiny, the experiences of financial subjects at the financial fringe have been rarely considered. In the UK, for example, the introduction of High-Cost, Short-Term Credit [HCSTC] or payday loan regulation was designed to protect vulnerable people from accessing unaffordable credit. Exploring the impact of HCSTC regulation is important due to the dramatic decline of the high-cost credit market which helped meet essential needs in an era of austerity. As such, the paper examines the impact of the HCSTC regulation on sixty-four financially marginalized individuals in the UK that are unable to access payday loans. First, we identify the range of socioeconomic strategies that individuals employ to manage their finances to create a typology of financial subjectivity at the financial fringe. Second, we demonstrate how the temporal and precarious nature of financial inclusion at the financial fringe adds nuance to existing debates of the everyday lived experience of financialization

Performance Evaluation of Bus Rapid Transit System: A Comparative Analysis of Alternative Approaches for Energy Efficient Eco-Friendly Public Transport System

The development of the bus rapid transit system (BRTS) is tremendously growing in developing countries of the world. In large cities, the projection of transportation intends to enhance economic growth and changes the image of the city for both residents and outsiders. The purpose of this research was to study the application of alternative options for energy efficient BRTS in developing countries. The BRTS has some of its accessibility patterns that relate to the socio-economic strata. A decision-making efficiency analysis methodology has been applied to analyze the comparative analysis of both conventional fuel and hybrid bus systems for the Multan city of Pakistan. The section-wise application of a hybrid energy-based bus system has been analyzed in comparison to the conventional bus system. Out of 21 stations, the efficiency-wise hybrid bus system remained superior or equivalent to the standard value of 1 except one midpoint section. The finding of the analysis indicates that the hybrid mechanism of buses can not only replace a conventional fuel-based system, but will also help as an energy-efficient and eco-friendly economical solution. This study will help to revolutionize the bus rapid transit system in developing countries