A1 Journal article (refereed)
Financialization of Eldercare in a Nordic Welfare State (2022)

Hoppania, H.-K., Karsio, O., Näre, L., Vaittinen, T., & Zechner, M. (2022). Financialization of Eldercare in a Nordic Welfare State. Journal of Social Policy, First View. https://doi.org/10.1017/S0047279422000137

JYU authors or editors

Publication details

All authors or editorsHoppania, Hanna-Kaisa; Karsio, Olli; Näre, Lena; Vaittinen, Tiina; Zechner, Minna

Journal or seriesJournal of Social Policy



Publication year2022

Publication date29/03/2022

VolumeFirst View

PublisherCambridge University Press

Publication countryUnited Kingdom

Publication languageEnglish


Publication open accessOpenly available

Publication channel open accessPartially open access channel

Publication is parallel published (JYX)https://jyx.jyu.fi/handle/123456789/81593


The increasing presence of for-profit service providers in publicly-funded eldercare has transformed care in Nordic welfare states which have a strong tradition of public care provision. Macro-level research on care policies has mainly focused on public institutions, national policies, and marketization. The financialization of eldercare has not received much scholarly attention, and existing studies mostly focus on the UK. The financialization of eldercare refers to the ways in which care is both a site of profit extraction and financial engineering. The Nordic system is relatively universal, and, with rapidly ageing demographics, there is a secured demand for eldercare services. However, these services have been heavily marketized over the past two decades, opening up lucrative possibilities for financialized actors who have established a stronghold over the markets. We analyse these processes through selected empirical examples from Finland, and argue that the financialization of eldercare in the Nordic context demands attention as we are witnessing a new configuration between the constitutional order of the welfare state, public finances, and private profit which is neither transparent, nor democratic.

Keywordspublic servicescare servicescare for the elderlyprivatisation (economics)market economysocial policywelfare state

Free keywordsfinancialization; eldercare; Nordic welfare state; financialization of care; marketization of care

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Related projects

Ministry reportingYes

Reporting Year2022

JUFO rating3

Last updated on 2024-03-04 at 19:06