Sean Vanatta on Credit Cards
New Books in Economics
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The Evolution of Credit Cards in American Economy
Exploring the history and impact of credit cards in the American economy, from their origins in the Great Depression era to the modern-day financial systems. The chapter discusses the transition of banking systems in the US, the role of credit cards in escaping regulatory constraints, and the diminishing democratic control over financial institutions. It also covers the personal journey of the speaker into studying credit cards, highlighting the evolution of the credit card industry from local banks to powerful centralized institutions.
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