Awards

• Winner of Choice Magazine Outstanding Academic Title 2012

Overview

In this lively history of consumer debt in America, economic historian Louis Hyman demonstrates that today’s problems are not as new as we think.   Borrow examines how the rise of consumer borrowing—virtually unknown before the twentieth century—has altered our culture and economy. Starting in the years before the Great Depression, increased access to money raised living standards but also introduced unforeseen risks. As lending grew more and more profitable, it displaced funds available for business borrowing, setting our economy on an unsustainable course. Told through the vivid stories of individuals and institutions affected by these changes, Borrow charts the collision of commerce and culture in twentieth-century America, giving an historical perspective on what is new—and what is not—in today’s economic turmoil. A Paperback Original

Full Product Details

9780307741684

Table of Contents

Reviews

An entertaining romp through the history and culture of credit. . . . It's such a great book. -- The Wall Street Journal Hyman has written a breezy book that goes deeper. . . . an accessible and well-written primer on a vast history, with plenty of cautionary tales for those who would fix what's broken in our financial system, as well as what isn't. -- The Philadelphia Inquirer The story of how Americans learned to love debt--and became dangerously addicted to it. Anyone who has ever wondered how we got into the mess we are now in must read this powerful book. --Lizabeth Cohen, author of A Consumers' Republic Stocked with colorful personalities and trenchant insights, Hyman's lucid, entertaining, and timely treatise illuminates the murky processes by which debt became the troubled center of economic life. -- Publishers Weekly An evenhanded account aimed at the general reader baffled by today's economic crisis. From Model-Ts to TVs to McMansions, Hyman uncovers the credit story behind all the glittering prizes and offers a prescription to prevent the American Dream from turning into the American Nightmare. -- Kirkus Reviews Clearly written, carefully researched. . . . Readers will come to understand that credit difficulties are not new. . . [ Borrow ] offers solutions to this seemingly intractable problem. -- Library Journal [ Borrow ] is the sort of mind-blower of a book it'll likely force you to rethink and reconsider how you see things for a bit. . . . Hyman's hugely compelling book will ultimately hip you to the fact that the scare-tactic stories about debt and everything else are infinitely, infinitely more complicated than we typically consider. . . . One reads Borrow with a sense of whiplash. . . . Maybe the most necessary nonfiction reading at present. -- The Kenyon Review This comprehensive--yet extremely readable--history of American attitudes toward cr

Stocked with colorful personalities and trenchant insights, Hyman's lucid, entertaining, and timely treatise illuminates the murky processes by which debt became the troubled center of economic life. <br>-- Publishers Weekly <br><br> An evenhanded account aimed at the general reader baffled by today's economic crisis. From Model-Ts to TVs to McMansions, Hyman uncovers the credit story behind all the glittering prizes and offers a prescription to prevent the American Dream from turning into the American Nightmare. <br>-- Kirkus Reviews <br><br> The story of how Americans learned to love debt--and became dangerously addicted to it. Anyone who has ever wondered how we got into the mess we are now in must read this powerful book. <br>--Lizabeth Cohen, author of A Consumers' Republic

Author Information

Louis Hyman attended Columbia University, where he received a BA in history and mathematics. A former Fulbright scholar and a consultant at McKinsey & Co., he received his PhD in American history in 2007 from Harvard University. He is currently an assistant professor in Cornell University’s School of Industrial and Labor Relations, where he teaches history.

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