The grocer & his employees knew our family. We lived in the neighborhood. My parents would pay when they came to the store. Other people would wait until they had ready cash.
My brother stole some candy from another store. The owner saw what was happening, put it on our bill, & mentioned it to my mother. A different world. On Thu, Jul 17, 2008 at 08:07:42AM -0400, Michael Nuwer wrote: > Michael Perelman wrote: >> Before the 1920s consumer credit was considered okay for housing or for >> "moral" consumption such as pianos or encyclopedias. Stores would give >> credit on the books people they knew. I could go to the nearby grocery >> store, pick up some things for my mother, and clerk would merely note down >> the price. > > Michael, > When were you expected to repay the grocer? When you received your next > paycheck? At the end of the month, in full? I wonder whether this type of > credit is substantially the same as that offered by the auto industry. Do > you think the modern credit card industry is simply a general form of the > grocer's credit? > > >> The automobile industry first popularized massive credit in the 1920s. > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail michael at ecst.csuchico.edu michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
