Stella Kwon

Stella Kwon is a recipient of a 2025 CAPS Undergraduate Summer Thesis Research Grant. Stella’s proposed thesis is entitled, “House of Cards: The U.S. Fiat System and Debt-Driven Social Contract.”

Proposal synopsis: This project seeks to understand how the financialization of America’s social safety net has exacerbated economic inequality with a focus on homeownership and the consumer credit market as a form of collective risk sharing since the early 20th century. My research combines theoretical frameworks from Foucault and Lazzarato with empirical evidence and ethnographic research to enrich understanding of how debt shapes interpersonal life and perpetuates economic inequality in contemporary America.

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