In this lively history of consumer debt in America, economic historian Louis Hyman demonstrates that today’s problems are not as new as we think.
Borrow examines how the rise of consumer borrowing—virtually unknown before the twentieth century—has altered our culture and economy. Starting in the years before the Great Depression, increased access to money raised living standards but also introduced unforeseen risks. As lending grew more and more profitable, it displaced funds available for business borrowing, setting our economy on an unsustainable course. Told through the vivid stories of individuals and institutions affected by these changes, Borrow charts the collision of commerce and culture in twentieth-century America, giving an historical perspective on what is new—and what is not—in today’s economic turmoil.
A Paperback Original
- ISBN10 0307744906
- ISBN13 9780307744906
- Publish Date 24 January 2012 (first published 1 January 2012)
- Publish Status Active
- Publish Country US
- Publisher Random House USA Inc
- Imprint Vintage Books
- Format eBook
- Pages 165
- Language English