Plastic Capitalism

In "The Credit Card Economy," Sean H. Vanatta explores the history of American consumer debt, tracing the evolution of postwar finance from stable banking to the rise of credit cards. After World War II, regulations fostered a period of affordable credit, but as bankers sought greater profits, they revolutionized the financial landscape with high-interest cards in the 1960s. Despite consumer pushback aimed at making credit safer and more affordable in the following decades, banks circumvented protections by relocating to states with lenient regulations, ultimately shaping the exploitative credit environment seen today.