Financialisation, financial literacy and asset-based welfare

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175 Citations (Scopus)


This article examines New Labour's policies of asset-based welfare in the broader context of financialisation. It argues that these are indicative of a mode of government concerned to alter individual outlooks and aspirations, and that asset-based welfare, as developed by New Labour, is primarily a strategy for enhancing financial literacy. Exploring and identifying the general contours of New Labour's reform of welfare provision (particularly the rise of conditionality and personalisation), the article presents a case study of the Child Trust Fund, its development and marketing. The article closes with reflections on the fate of such policies after the sub-prime mortgage crisis.
Original languageEnglish
Pages (from-to)400-421
Number of pages22
JournalBritish Journal of Politics & International Relations
Issue number3
Publication statusPublished - Aug 2009

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