The Socialist Program with Brian Becker cover image

Why Are Workers Drowning in Credit Card Debt?

The Socialist Program with Brian Becker

00:00

Evolution of Consumer Credit in Modern Capitalism

Exploring the historical shift towards mass consumer credit, the chapter examines how the introduction of credit cards transformed access to credit for the working class in the 1970s. It also analyzes the connection between the rise of consumer credit and wage stagnation in the US during that era.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app