Consumer Lending in France and America: Credit and Welfare - Hardcover

Trumbull, Gunnar

Hardcover

ISBN 10: 1107015650 ISBN 13: 9781107015654

Publisher: Cambridge University Press, 2014

Synopsis

Why did America embrace consumer credit over the course of the twentieth century, when most other countries did not? How did American policy makers by the late twentieth century come to believe that more credit would make even poor families better off? This book traces the historical emergence of modern consumer lending in America and France. If Americans were profligate in their borrowing, the French were correspondingly frugal. Comparison of the two countries reveals that America's love affair with credit was not primarily the consequence of its culture of consumption, as many writers have observed, nor directly a consequences of its less generous welfare state. It emerged instead from evolving coalitions between fledgling consumer lenders seeking to make their business socially acceptable and a range of non-governmental groups working to promote public welfare, labor, and minority rights. In France, where a similar coalition did not emerge, consumer credit continued to be perceived as economically regressive and socially risky.

About this title

Book Description:

Why did America embrace consumer credit over the course of the twentieth century, when most other countries did not? How did American policy makers by the late twentieth century come to believe that more credit would make even poor families better off? This book traces the historical emergence of modern consumer lending in America and France.

About the Author:

Gunnar Trumbull is the Philip Caldwell Professor of Business Administration at Harvard Business School. He received his AB from Harvard College in 1991 and his PhD in Political Science from the Massachusetts Institute of Technology in 2000. He has served as a Jean Monnet Fellow at the European University Institute in Florence, Italy and a Research Fellow at the Brookings Institution in Washington, DC. His research focuses on consumer politics in Europe and America. His previous books include Consumer Capitalism: Politics, Product Markets and Firm Strategy in France and Germany (2006) and Strength in Numbers: The Political Power of Weak Interests (2012).

About this edition

• Publisher: Cambridge University Press
• Publication date: 2014
• ISBN 10: 1107015650
• ISBN 13: 9781107015654
• Binding: Hardcover
• Number of pages: 239