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4min chapter
Why Are Workers Drowning in Credit Card Debt?
The Socialist Program with Brian Becker
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.
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Discover
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