Sean Vanatta on Credit Cards
Peoples & Things
Evolution of Banking and Credit Cards
The evolution of banking in the United States from small local community banks to major global banks is represented through the use of credit cards. Banks saw credit cards as a way to bypass government regulations and expand their operations. This shift led to a loss of democratic control over financial institutions, where citizens had less influence over credit card rates and local bank sizes. The speaker's interest in the topic stemmed from personal experience with credit card debt and a transition from marketing to history in their academic journey.
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