Introduction

This chapter looks at financial inclusion and alternative agendas. Chapter 4 suggested that different models of home-ownership might be used to challenge the grip of investor-subjects within housing and the financial system. The present chapter extends this discussion of alternatives. Chapter 1 claimed that it is possible to disentangle financialisation from neoliberalism. The suggestion, then, is that it is possible to develop different versions of financial inclusion (and financialisation) that do not lead necessarily to neoliberalism.

One understanding of different agendas might conceive of this as alternatives to financial inclusion. This book has noted that supporters of financial inclusion claim that it reduces the poverty premium from being denied access to mainstream financial services. The poverty premium shows a concern with poverty and inequality. However, there may be different ways of reducing poverty and inequality. Critics of financial inclusion may claim that there are better ways of supporting equality than financial inclusion.

One task, then, might be to compare financial inclusion with other policy agendas. A prelude to comparative research of this kind is to set out the different policy agendas on offer. This chapter sets out two of the most obvious possible alternatives to those considered in this book. First, this chapter outlines the role of a universal basic income. Chapter 2 suggests that a nexus exists between money, financial capability and access to the financial system. Lack of money might render the capacity to make financial decisions and access to the financial system fairly meaningless. Some observers may prefer simply to concentrate on increasing money to individuals and households rather than paying attention to enhancing financial capability or access to financial services. A universal basic income is one way of ensuring that all citizens have access to money. Second, the chapter outlines universal basic services. Critics of a great risk shift from the state to individuals often prefer to consolidate and extend the welfare state. Universal basic services have been proposed as one significant way of extending the welfare state.

The discussion of these alternatives could be a basis for future comparative research. This chapter suggests that financial inclusion can play an important role in supporting these alternatives. This chapter first sketches out the main parts of a universal basic income. A universal basic income is a related policy to the CTF discussed in Chapter 3.