Debt for Sale : : A Social History of the Credit Trap / / Brett Williams.
Credit and debt appear to be natural, permanent facets of Americans' lives, but a debt-based economy and debt-financed lifestyles are actually recent inventions. In 1951 Diners Club issued a plastic card that enabled patrons to pay for their meals at select New York City restaurants at the end...
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Place / Publishing House: | Philadelphia : : University of Pennsylvania Press, , [2011] ©2004 |
Year of Publication: | 2011 |
Language: | English |
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Physical Description: | 1 online resource (160 p.) |
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Williams, Brett, author. aut http://id.loc.gov/vocabulary/relators/aut Debt for Sale : A Social History of the Credit Trap / Brett Williams. Philadelphia : University of Pennsylvania Press, [2011] ©2004 1 online resource (160 p.) text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Contents -- 1 Don't Charge This Book! -- 2 Calling All Convenience Users -- 3 Rustling Up Revolvers -- 4 Seducing Students -- 5 Pummeling the Poor -- 6 Search for Solutions -- Notes -- Index -- Acknowledgments restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star Credit and debt appear to be natural, permanent facets of Americans' lives, but a debt-based economy and debt-financed lifestyles are actually recent inventions. In 1951 Diners Club issued a plastic card that enabled patrons to pay for their meals at select New York City restaurants at the end of each month. Soon other "charge cards" (as they were then known) offered the convenience for travelers throughout the United States to pay for hotels, food, and entertainment on credit. In the 1970s the advent of computers and the deregulation of banking created an explosion in credit card use-and consumer debt. With gigantic national banks and computer systems that allowed variable interest rates, consumer screening, mass mailings, and methods to discipline slow payers with penalties and fees, middle-class Americans experienced a sea change in their lives.Given the enormous profits from issuing credit, banks and chain stores used aggressive marketing to reach Americans experiencing such crises as divorce or unemployment, to help them make ends meet or to persuade them that they could live beyond their means. After banks exhausted the profits from this group of people, they moved into the market for college credit cards and student loans and then into predatory lending (through check-cashing stores and pawnshops) to the poor. In 2003, Americans owed nearly $8 trillion in consumer debt, amounting to 130 percent of their average disposable income. The role of credit and debt in people's lives is one of the most important social and economic issues of our age.Brett Williams provides a sobering and frank investigation of the credit industry and how it came to dominate the lives of most Americans by propelling the social changes that are enacted when an economy is based on debt. Williams argues that credit and debt act to obscure, reproduce, and exacerbate other inequalities. It is in the best interest of the banks, corporations, and their shareholders to keep consumer debt at high levels. By targeting low-income and young people who would not be eligible for credit in other businesses, these companies are able quickly to gain a stranglehold on the finances of millions. Throughout, Williams provides firsthand accounts of how Americans from all socioeconomic levels use credit. These vignettes complement the history and technical issues of the credit industry, including strategies people use to manage debt, how credit functions in their lives, how they understand their own indebtedness, and the sometimes tragic impact of massive debt on people's lives. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 24. Apr 2022) Consumer credit United States. Debt United States. Folklore. SOCIAL SCIENCE / Poverty & Homelessness. bisacsh Anthropology. Business. Economics. Linguistics. Political Science. Public Policy. Title is part of eBook package: De Gruyter Penn Press eBook Package Complete Collection 9783110413458 Title is part of eBook package: De Gruyter Penn Press eBook Package Social Sciences 9783110413618 Title is part of eBook package: De Gruyter University of Pennsylvania Backlist eBook-Package 2000-2013 9783110459548 print 9780812218862 https://doi.org/10.9783/9780812200782 https://www.degruyter.com/isbn/9780812200782 Cover https://www.degruyter.com/document/cover/isbn/9780812200782/original |
language |
English |
format |
eBook |
author |
Williams, Brett, Williams, Brett, |
spellingShingle |
Williams, Brett, Williams, Brett, Debt for Sale : A Social History of the Credit Trap / Frontmatter -- Contents -- 1 Don't Charge This Book! -- 2 Calling All Convenience Users -- 3 Rustling Up Revolvers -- 4 Seducing Students -- 5 Pummeling the Poor -- 6 Search for Solutions -- Notes -- Index -- Acknowledgments |
author_facet |
Williams, Brett, Williams, Brett, |
author_variant |
b w bw b w bw |
author_role |
VerfasserIn VerfasserIn |
author_sort |
Williams, Brett, |
title |
Debt for Sale : A Social History of the Credit Trap / |
title_sub |
A Social History of the Credit Trap / |
title_full |
Debt for Sale : A Social History of the Credit Trap / Brett Williams. |
title_fullStr |
Debt for Sale : A Social History of the Credit Trap / Brett Williams. |
title_full_unstemmed |
Debt for Sale : A Social History of the Credit Trap / Brett Williams. |
title_auth |
Debt for Sale : A Social History of the Credit Trap / |
title_alt |
Frontmatter -- Contents -- 1 Don't Charge This Book! -- 2 Calling All Convenience Users -- 3 Rustling Up Revolvers -- 4 Seducing Students -- 5 Pummeling the Poor -- 6 Search for Solutions -- Notes -- Index -- Acknowledgments |
title_new |
Debt for Sale : |
title_sort |
debt for sale : a social history of the credit trap / |
publisher |
University of Pennsylvania Press, |
publishDate |
2011 |
physical |
1 online resource (160 p.) Issued also in print. |
contents |
Frontmatter -- Contents -- 1 Don't Charge This Book! -- 2 Calling All Convenience Users -- 3 Rustling Up Revolvers -- 4 Seducing Students -- 5 Pummeling the Poor -- 6 Search for Solutions -- Notes -- Index -- Acknowledgments |
isbn |
9780812200782 9783110413458 9783110413618 9783110459548 9780812218862 |
callnumber-first |
H - Social Science |
callnumber-subject |
HG - Finance |
callnumber-label |
HG3756 |
callnumber-sort |
HG 43756 U5 W533 42004EB |
geographic_facet |
United States. |
url |
https://doi.org/10.9783/9780812200782 https://www.degruyter.com/isbn/9780812200782 https://www.degruyter.com/document/cover/isbn/9780812200782/original |
illustrated |
Not Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
332 - Financial economics |
dewey-full |
332.7/43 |
dewey-sort |
3332.7 243 |
dewey-raw |
332.7/43 |
dewey-search |
332.7/43 |
doi_str_mv |
10.9783/9780812200782 |
oclc_num |
979575934 |
work_keys_str_mv |
AT williamsbrett debtforsaleasocialhistoryofthecredittrap |
status_str |
n |
ids_txt_mv |
(DE-B1597)449226 (OCoLC)979575934 |
carrierType_str_mv |
cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Penn Press eBook Package Complete Collection Title is part of eBook package: De Gruyter Penn Press eBook Package Social Sciences Title is part of eBook package: De Gruyter University of Pennsylvania Backlist eBook-Package 2000-2013 |
is_hierarchy_title |
Debt for Sale : A Social History of the Credit Trap / |
container_title |
Title is part of eBook package: De Gruyter Penn Press eBook Package Complete Collection |
_version_ |
1770176401663590400 |
fullrecord |
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