Sean Vanatta on Credit Cards
New Books in Economics
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The Evolution of Consumer Credit and the Rise of Credit Cards
This chapter explores the historical development of consumer credit, particularly focusing on the rise of credit cards from the 1950s. It delves into the motivations behind policymakers' support for consumer credit as a solution to economic challenges and the competition among banks in developing credit card systems. The narrative also touches on the regulatory environment and challenges faced by the credit card industry during its early years.
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