Class differences in financial temporal orientation: The role of digital devices

• In Event: 30661 - Section on Sociology of Consumers and Consumption Roundtables
  In Refereed Roundtable (60 minute): Table 2. Consumption and social inequality

Abstract

This paper explores the various ways in which time horizons (THs) and time perspectives (TPs) are encouraged and scripted by digital financial devices. It contributes to a sociological literature that, while interested in situational influences on individual time perspectives and time horizons, mainly explains differences in temporal orientations based on socialization. Additionally, a contribution to socio-material approaches is made since individual TPs and THs have not been considered by this strand of research yet. We argue that devices could contribute to differences in TPs and THs, which could result in different financial behaviours, leading to financial outcomes (increased or decreased wealth or income) that are detrimental to class positions. To do this, we used a walk-through method to look at 16 websites/apps in the categories (1) credit/loan, (2) mortgage, and (3) trading and investment, to explore what subjectivities the websites/apps suggest (for example, “buying things makes you happy”).

Authors

• Robert Musil, Università della Svizzera italiana

• Lena Pellandini-Simanyi, University of Lugano