By Howard Karger
Read or Download Shortchanged: Life and Debt in the Fringe Economy PDF
Similar economic conditions books
Political financial system has been an important realm of inquiry and has attracted myriad highbrow adherents for a lot of the interval of contemporary scholarship, even if its formal cut up into the detailed disciplines of political technological know-how and economics within the 19th century has restricted the research of vital social concerns.
Reprint of the per thirty days evaluation variation of 1983, with a brand new epilogue, and foreword by way of Dan Boylan. Annotation copyright ebook information, Inc. Portland, Or.
Publication through Mao Zedong, Mao Tsai'tung
In an age while pundits continuously decry overt political bias within the media, we've got obviously turn into skeptical of the scoop. however the bluntness of such opinions mask the hugely refined ways that the media body very important tales. In entrance web page Economics, Gerald Suttles delves deep into the records to check assurance of 2 significant monetary crashes—in 1929 and 1987—in order to systematically holiday down the way in which newspapers normalize crises.
- A History of the European Economy, 1000-2000
- Chaotics: The Business of Managing and Marketing in the Age of Turbulence
- Jimmy Stewart is Dead: Ending the World's Ongoing Financial Plague with Limited Purpose Banking
- Religion, Economics and Demography (Routledge Frontiers of Political Economy)
- Trade and Technology in Soviet-Western Relations
Extra info for Shortchanged: Life and Debt in the Fringe Economy
From 1994 to 2002, caseloads dropped from 14 million to 5 million, with most of the 9 million former recipients ending up in the low-wage labor market. 00 per hour, higher than the minimum wage but not enough to raise a family out of poverty. Most jobs are in the services and retail trade. 75 an hour, barely enough to raise a family of three above the federal poverty line. Fifty-eight percent of employed former recipients have an income below the poverty line, and more than half are unable to pay rent, purchase food, afford medical care, or pay for utilities.
When the last bank left in the late 1990s, the 21,000 residents were forced to make due with check-cashing outlets, payday lenders, and pawnshops. 27 The consolidation in the banking industry over the past 20 years has reduced the number of banks in low-income neighborhoods, increased the focus of banks on corporate and high-income customers, and limited banks’ interest in serving consumers with small accounts or less-than-perfect credit. To counter this trend, some scholars and community activists are encouraging mainstream banks to set up branches in low-income neighborhoods.
The list goes on and on. Interest rates in the fringe economy are often in triple digits, and the grossly inflated prices of goods and services have no relationship to their real market value. The poor and credit-poor live in a world where borrowing means temporarily or permanently losing a valued possession or paying an exorbitant fee for a small cash advance. The following is a brief roadmap to Shortchanged. Chapter 1 looks at the scope and size of the fringe economy and the characteristics of its customers.