Shortchanged Life and Debt in the Fringe Economy

by Karger, Howard

• ISBN13: 9781576753361
• ISBN10: 1576753360
• Format: Hardcover
• Copyright: 2005-09-11
• Publisher: Berrett-Koehler Publishers

Summary

Shortchanged takes a hard look at the corporate vultures that prey on America's poor and middle classes. This 'fringe economy'' made up of pawnshops, payday lenders, cheque cashers, credit card companies and the like, entices vulnerable consumers into an economic netherworld of high interest rates and ever-increasing debt. 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.

Author Biography

Howard Karger is a professor of social policy at the Graduate School of Social Work, University of Houston. He is a two-time Fulbright Scholar and has written nine books and more than 80 articles or book chapters in various national and international journals. His articles have also appeared in The Washington Monthly, The Jerusalem Report, Tikkun, and Ram- parts. Howard and his wife, Anna, live in Houston, Texas.

Table of Contents

Preface	ix
Acknowledgments	xix
Part I OVERVIEW OF THE FRINGE ECONOMY
1 America's Changing Fringe Economy	3	(14)
2 Why the Fringe Economy Is Growing	17	(12)
3 Debt and the Functionally Poor Middle Class	29	(12)
Part II THE FRINGE SECTORS
4 The Credit Card Industry	41	(24)
5 Storefront Loans: Pawnshops, Payday Loans, and Tax Refund Lenders	65	(22)
6 Alternative Services: Check-Cashers, the Rent-to-Own Industry, and Telecommunications	87	(22)
7 Fringe Housing	109	(20)
8 Real Estate Speculation and Foreclosure	129	(16)
9 The Fringe Auto Industry	145	(28)
10 The Getting-Out-of-Debt Industry	173	(24)
Part III LOOKING FORWARD
11 What Can Be Done to Control the Fringe Economy?	197	(18)
Glossary	215	(3)
Notes	218	(19)
Index	237	(12)
About the Author	249