Shortchanged: Life and Debt in the Fringe Economy

Front Cover
Berrett-Koehler Publishers, 2005 - Business & Economics - 252 pages
0 Reviews
""Shortchanged"" takes an uncompromising look at the corporate vultures that prey on America's working class. Made up of pawnshops, payday lenders, check cashers, credit card companies and the like, the fringe economy entices vulnerable consumers into an economic netherworld of high interest rates and ever-increasing debt. The book examines the factors behind the fringe economy's rise -- stagnant wages, rising numbers of working poor, and the 12 million U.S. households without bank accounts -- and investigates the sleazy practices -- instant credit, cash-for-your-title loans, predatory mortgage lending, E-Z home equity loans -- that result in phenomenal growth for the industry and a nightmare for the consumer. Powerful analysis is combined with moving personal stories of the mothers, fathers, and families whose lives have been put on the line for the perpetuation of this economy. Ruthless, compelling, outrageous, and often enraging, ""Shortchanged"" puts the spotlight on the shady side of America's economic underbelly.
 

What people are saying - Write a review

Shortchanged : Life and Debt in the Fringe Economy (Bk Currents)

User Review  - Not Available - Book Verdict

Low-income consumers-and, increasingly, the financially strapped middle class-serve as prey in the predatory economic food chain of what Karger coins the "fringe economy." (Buy-here-pay-here outlets ... Read full review

Contents

THE FRINGE SECTORS
39
LOOKING FORWARD
195
Glossary
215
Notes
218
Index
237
About the Author
249
Copyright

Other editions - View all

Common terms and phrases

About the author (2005)

Howard Karger (Texas/New Mexico) is professor of social policy at the University of Houston and Senior Fulbright Scholar. He has authored nine books, including the bestselling American Social Welfare Policy.

Bibliographic information