Debtor Nation (eBook)

The History of America in Red Ink

Louis Hyman (Autor)

eBook Download: PDF | EPUB

2011
392 Seiten
Princeton University Press (Verlag)
978-1-4008-3840-0 (ISBN)

Infos

Louis Hyman is assistant professor of history at the ILR School of Cornell University.

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The story of personal debt in modern AmericaBefore the twentieth century, personal debt resided on the fringes of the American economy, the province of small-time criminals and struggling merchants. By the end of the century, however, the most profitable corporations and banks in the country lent money to millions of American debtors. How did this happen? The first book to follow the history of personal debt in modern America, Debtor Nation traces the evolution of debt over the course of the twentieth century, following its transformation from fringe to mainstream-thanks to federal policy, financial innovation, and retail competition.How did banks begin making personal loans to consumers during the Great Depression? Why did the government invent mortgage-backed securities? Why was all consumer credit, not just mortgages, tax deductible until 1986? Who invented the credit card? Examining the intersection of government and business in everyday life, Louis Hyman takes the reader behind the scenes of the institutions that made modern lending possible: the halls of Congress, the boardrooms of multinationals, and the back rooms of loan sharks. America's newfound indebtedness resulted not from a culture in decline, but from changes in the larger structure of American capitalism that were created, in part, by the choices of the powerful-choices that made lending money to facilitate consumption more profitable than lending to invest in expanded production.From the origins of car financing to the creation of subprime lending, Debtor Nation presents a nuanced history of consumer credit practices in the United States and shows how little loans became big business.

Produkt-Details

• Erscheint lt. Verlag: 3.1.2011
• Reihe/Serie: Politics and Society in Modern America
• Reihe/Serie: Politics and Society in Modern America
• Zusatzinfo: 10 halftones. 4 line illus.
• Verlagsort: Princeton
• Sprache: englisch
• Themenwelt: Sachbuch/Ratgeber ► Geschichte / Politik ► 20. Jahrhundert bis 1945
• Themenwelt: Geschichte ► Allgemeine Geschichte ► Neuzeit (bis 1918)
• Themenwelt: Geisteswissenschaften ► Geschichte ► Regional- / Ländergeschichte
• Themenwelt: Geschichte ► Teilgebiete der Geschichte ► Wirtschaftsgeschichte
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• Schlagworte: Ability to pay • Account (accountancy) • Accounting • Accounts Receivable • Advertising • African Americans • American Bankers Association • American banks • American capitalism • american consumers • american economy • Annual report • asset • Bank • Bank of America • bookkeeping • Borrowing • Budget • business loan • business loans • Capitalism • Cash • Charge card • citibank • Commercial Bank • commercial banks • commercial loans • consumer • Consumer credit • Consumer Debt • Consumer goods • consumer lending • consumption • Consumption (Economics) • corporation • credit • credit access • credit activists • credit bureau • credit card • credit card investments • credit cards • Credit Control • Credit (finance) • credit history • credit institutions • credit limit • Credit manager • Creditor • Credit Rating • credit risk • credit score • credit system • Credit union • credit use • Customer • debt • Debt Consolidation • Debtor • debtors • Default (finance) • Department Store • Diners Club International • down payment • Economic Inequality • economist • economy • Employment • entrepreneurial innovation • Entrepreneurship • Expense • Fannie Mae • Federal Home Loan Bank Board • Federal Housing Administration • Federal policy • Federal Reserve • FHA insured loan • Finance • Financial institution • Financial institutions • financier • Funding • Governmental Policy • Harvard University • Hire purchase • home equity loans • Household • Incentive • income • industrial economy • installment credit • Installment Debt • institutional investor • insurance • Interest Rate • Investment • investment capital • Investor • legalized personal loans • legal lending • Lending • line of credit • loan shark • Margin (finance) • market liquidity • material prosperity • middle class • modern america • modern credit system • modern debt • money lending • mortgage loan • Mortgages • National City Bank • National debt of the United States • national mortgage markets • New Deal housing policy • Payment • Personal debt • personal lending • personal loan departments • personal loans • Policy • postwar prosperity • postwar United States • predatory lending • Profit (economics) • Recession • Regulation • Regulation W • repayment • repayment plan • REPOSSESSION • Residential housing • Retail • revolving credit • roosevelt administration • Russell Sage Foundation • saving • savings account • Savings and loan association • Securitization • Social Status • Supply (economics) • Survey of Consumer Finances • Tax • Title I loan program • Unemployment • Unsecured debt • Wealth • Wealth Inequality • World War II
• ISBN-10: 1-4008-3840-1 / 1400838401
• ISBN-13: 978-1-4008-3840-0 / 9781400838400