Democratisation of Finance and the Transformation of Consumers Into Financial Citizens

Year 2025, Volume: 29 Issue: 1, 57 - 65, 25.03.2025

Esra Ünal

https://doi.org/10.53487/atasobed.1502636

Abstract

The article explores the concept of the ‘democratisation of finance’ and its implications on financial markets, individual lifestyles, consumers and household relations. Initially regarded as a mechanism to promote enhanced financial accessibility and equity, the democratisation of finance has encountered obstacles in realising its optimal goals. Although it has promoted increased market participation among the general populace, it has not consistently guaranteed financial equality, and has consequently resulted in heightened over-consumption, indebtedness, and precarious investment decisions. The article delves into the complexities of financial inclusion and highlights how certain social groups, particularly women and minorities, may face exploitation and disadvantages in the financialised economy. Additionally, the study critically examines the role of regulatory frameworks and technology-driven financial systems in either mitigating or exacerbating these vulnerabilities. It also explores the broader societal consequences of financialisation, questioning whether the current trajectory of democratised finance truly fosters economic empowerment or entrenches existing disparities.

Keywords

the democratisation of finance, consumers, financial decision-making, financial citizens

Finansın Demokratikleşmesi ve Tüketicilerin Finansal Vatandaşlara Dönüşümü

Abstract

Bu makale, ‘finansın demokratikleşmesi’ kavramını ve bunun finansal piyasalar, bireysel yaşam tarzları, tüketiciler ve hane halkı ilişkileri üzerindeki etkilerini incelemektedir. Başlangıçta daha fazla finansal erişilebilirlik ve eşitliği teşvik eden bir mekanizma olarak görülen finansın demokratikleşmesi, optimum hedeflerini gerçekleştirmede önemli engellerle karşılaşmıştır. Halk arasında piyasa katılımının artmasını teşvik etmiş olsa da, finansal eşitliği tutarlı bir şekilde garanti etmemiş ve sonuç olarak kontrolsüz, aşırı tüketim, artan borçluluk ve dengesiz istikrarsız yatırım kararlarının artmasına neden olmuştur. Makale, finansal içermenin karmaşıklıklarını incelemekte ve belirli sosyal grupların, özellikle de kadınların ve azınlıkların finansallaşmış ekonomide nasıl sömürüye açık ve dezavantajlı konumda olabileceğini vurgulamaktadır. Buna ek olarak makale, düzenleyici çerçevelerin ve teknoloji odaklı finansal sistemlerin bu kırılganlıkları azaltma ya da şiddetlendirmedeki rolünü eleştirel bir bakış açısıyla incelemektedir. Ayrıca, demokratikleşmiş finansın mevcut gidişatının ekonomik güçlenmeyi gerçekten teşvik edip etmediğini veya mevcut eşitsizlikleri pekiştirip pekiştirmediğini sorgulayarak finansallaşmanın daha geniş toplumsal ve ekonomik sonuçlarını araştırmakta, bireylerin finansal sistemden faydalanmasını zorlaştırabildiğini öne sürmektedir.

Keywords

finansın demokratikleşmesi, tüketiciler, finansal karar alma

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