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Sean Vanatta on Credit Cards
Peoples & Things
Unrestrained Finance and Economic Precarity
The privileged consumers were aware that allowing unrestricted finance would result in mounting debt and economic instability. Initially, consumers used their influence to prevent this outcome by utilizing political structures to uphold the moral economy credit. However, as financial institutions found ways to evade regulations and showcased the mobility of financial capital, consumers gradually lost control over regulatory mechanisms.
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