Sean Vanatta on Credit Cards
New Books in Economics
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The Evolution of Citibank and National Economy Dynamics
The chapter traces Citibank's transition from offshore banking to a focus on the US market, particularly emphasizing the introduction of credit cards and consumer borrowing. It examines the intertwined relationship between credit cards, inflation, and economic growth, highlighting the challenges faced by the Carter administration in regulating credit cards. The dialogue expands to discuss the consequences of unrestrained finance, the influence of privileged consumers on regulations, and a pessimistic outlook on financial policy and reform post-2008 crisis.
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