The story of personal debt in modern America Before the twentieth century, personal debt resided on the fringes of the American economy, the province of small-time criminals and struggling merchants. By the end of the century, however, the most profitable corporations and banks in the country lent money to millions of American debtors. How did this happen? The first book to follow the history of personal debt in modern America, Debtor Nation traces the evolution of debt over the course of the twentieth century, ...
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The story of personal debt in modern America Before the twentieth century, personal debt resided on the fringes of the American economy, the province of small-time criminals and struggling merchants. By the end of the century, however, the most profitable corporations and banks in the country lent money to millions of American debtors. How did this happen? The first book to follow the history of personal debt in modern America, Debtor Nation traces the evolution of debt over the course of the twentieth century, following its transformation from fringe to mainstream--thanks to federal policy, financial innovation, and retail competition. How did banks begin making personal loans to consumers during the Great Depression? Why did the government invent mortgage-backed securities? Why was all consumer credit, not just mortgages, tax deductible until 1986? Who invented the credit card? Examining the intersection of government and business in everyday life, Louis Hyman takes the reader behind the scenes of the institutions that made modern lending possible: the halls of Congress, the boardrooms of multinationals, and the back rooms of loan sharks. America's newfound indebtedness resulted not from a culture in decline, but from changes in the larger structure of American capitalism that were created, in part, by the choices of the powerful--choices that made lending money to facilitate consumption more profitable than lending to invest in expanded production. From the origins of car financing to the creation of subprime lending, Debtor Nation presents a nuanced history of consumer credit practices in the United States and shows how little loans became big business.
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Seller's Description:
Very good in very good dust jacket. Ex-library. [ix], 378 p. : ill.; 24 cm. LCCN 2010031594 Type of material Book Personal name Hyman, Louis, 1977-Main title Debtor nation: the history of America in red ink / Louis Hyman. Published/Created Princeton: Princeton University Press, c2011. Description [ix], 378 p. : ill.; 24 cm. ISBN 9780691140681 (hbk. : alk. paper) LC classification HG3756. U54 H96 2011 Contents Making credit modern: the origins of the debt infrastructure in the 1920s--Debt and recovery: New Deal housing policy and the making of national mortgage markets--How commercial bankers discovered consumer credit: the Federal Housing Administration and personal loan departments--War and credit: government regulation and changing credit practices--Postwar consumer credit: borrowing for prosperity--Legitimating the credit infrastructure: race, gender and credit access--Securing debt in an insecure world--Epilogue: debt as choice, debt as structure. LC Subjects Consumer credit--United States--History--20th century. Debt--United States--History--20th century. Loans, Personal--United States--History--20th century. United States--Economic conditions--20th century. United States--Economic policy--20th century. Notes Includes bibliographical references (p. [363]-364] and index. Series Politics and society in twentieth-century America Dewey class no. 332.70973 Geographic area code n-us---
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Seller's Description:
Good. Ships in a BOX from Central Missouri! May not include working access code. Will not include dust jacket. Has used sticker(s) and some writing or highlighting. UPS shipping for most packages, (Priority Mail for AK/HI/APO/PO Boxes).
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Seller's Description:
Good. Trade paperback (US). Glued binding. 392 p. Contains: Tables, black & white, Figures. Politics and Society in Modern America, 87. May show signs of wear, highlighting, writing, and previous use. This item may be a former library book with typical markings. No guarantee on products that contain supplements Your satisfaction is 100% guaranteed. Twenty-five year bookseller with shipments to over fifty million happy customers.
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Seller's Description:
Very Good. Size: 9x6x1; Bound in publisher's black cloth. Hardcover. No dust jacket. Good binding and cover. Shelf wear. Stamped on bottom edge. Small stain to edge. Pages unmarked.
