HISTORY 100AC Lecture Notes - Lecture 9: Universal Credit, Credit Bureau, Credit Manager
Document Summary
Huge factor in the rise of capital in the form of loans: auto manufacturing. When the car craze hit america, bankers saw an opportunity. Henry ford invents/mass produces the model t. Initially did not wish to offer consumptive credit. 1923 - ford offered weekly purchasing plan. Once in my life i would like to own something outright before it"s broken! I"m always in a race with the junkyard! - - critique of american consumptive culture in relation to developing technology - - *50"s & 60"s -- the u. s. economy and therefore the people within the economy have an increasingly unopposed, financially prosperous position as an economic system*** All of these increases in capital investment and borrowing creates a new ideology in which american consumers are what they buy. Store credit cards became so popular, stores had to turn to banks in order to provide borrowing capital.
