An impossible living in a Transborder world: Culture, confianza, and economy of Mexican-origin populations

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13 Citations (Scopus)

Abstract

They are known as cundinas or tandas in Mexico, and for many people these local savings-and-loan operations play an indispensable role in the struggle to succeed in today's transborder economy. With this extensively researched book, Carlos Vélez-Ibáñez updates and expands upon his major 1983 study of rotating savings and credit associations (ROSCAs), incorporating new data that reflect the explosion of Mexican-origin populations in the United States. Much more than a study of one economic phenomenon though, the book examines the way in which these practices are part of greater transnational economies and how these populations engage in-and suffer through-the twenty-first century global economy. Central to the ROSCA is the cultural concept of mutual trust, or confianza. This is the cultural glue that holds the reciprocal relationship together. As Vélez-Ibáñez explains, confianza "shapes the expectations for relationships within broad networks of interpersonal links, in which intimacies, favors, goods, services, emotion, power, or information are exchanged." In a border region where migration, class movement, economic changes, and institutional inaccessibility produce a great deal of uncertainty, Mexican-origin populations rely on confianza and ROSCAs to maintain a sense of security in daily life. How do transborder people adapt these common practices to meet the demands of a global economy? That is precisely what Vélez-Ibáñez investigates.

Original languageEnglish (US)
PublisherUniversity of Arizona Press
Number of pages241
ISBN (Print)9780816526352
StatePublished - 2010

Fingerprint

savings
credit
economy
sense of security
border region
intimacy
economic change
twenty-first century
loan
emotion
Mexico
uncertainty
migration
economics

ASJC Scopus subject areas

  • Social Sciences(all)

Cite this

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abstract = "They are known as cundinas or tandas in Mexico, and for many people these local savings-and-loan operations play an indispensable role in the struggle to succeed in today's transborder economy. With this extensively researched book, Carlos V{\'e}lez-Ib{\'a}{\~n}ez updates and expands upon his major 1983 study of rotating savings and credit associations (ROSCAs), incorporating new data that reflect the explosion of Mexican-origin populations in the United States. Much more than a study of one economic phenomenon though, the book examines the way in which these practices are part of greater transnational economies and how these populations engage in-and suffer through-the twenty-first century global economy. Central to the ROSCA is the cultural concept of mutual trust, or confianza. This is the cultural glue that holds the reciprocal relationship together. As V{\'e}lez-Ib{\'a}{\~n}ez explains, confianza {"}shapes the expectations for relationships within broad networks of interpersonal links, in which intimacies, favors, goods, services, emotion, power, or information are exchanged.{"} In a border region where migration, class movement, economic changes, and institutional inaccessibility produce a great deal of uncertainty, Mexican-origin populations rely on confianza and ROSCAs to maintain a sense of security in daily life. How do transborder people adapt these common practices to meet the demands of a global economy? That is precisely what V{\'e}lez-Ib{\'a}{\~n}ez investigates.",
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