Indebted Societies : Cambridge University Press : 9781108838542 : 1108838545 : 08 Jul 2021 : "Many people these days are no strangers to debt. People borrow money to pay for childcare,1 to get training, or toy take out student loans to attend college and university. They take out mortgages to buy homes, perceived by many as the cornerstone of a middle-class life because homeownership helps build wealth and unlocks access to vibrant labor markets and neighborhoods with good schools. But people also go into debt to address financial gaps that emerge because of volatile incomes, rising expenditures, and limited support from the welfare state. In short, financial markets are now woven deeply into the social fabric of our communities, societies, and economies. They provide opportunities that mitigate how social status, parental wealth, or skills affect socioeconomic outcomes. But as more and more people rely on financial products to borrow, save, and invest, the downside risks become more v