SOCI201 Lecture Notes - Lecture 17: White Slavery, Baby Boomers, Redlining

• School: University of Delaware
• Department: Sociology
• Course: SOCI201
• Professor: Best Joel

Document Summary

Debt 17: religious reservations- discouraging debt, catholic church took interest in lending money being a sin. One of the reasons why jews were against catholic doctrine: max weber- protestantism is encouraged in complex capital societies. Says debt was an important part in all of that. Reformation- protestant accepted lending at interest (usury becomes defined as excessive interest rates: debters prisons. Where debters were held until they paid off their debts. Mostly respectable people were put in because they had money and lost it. Modern version: access to credit becomes central determinant of life chances. You don"t borrow from a bank in the early 21st century, you borrow from a broker: bubble pops. Homeowner ship at 60%, spikes to 70%, then plumits. 3: debt in consumer society, student loans, dynamic bubbles, bottom line: debt pays a central role in contemporary society.