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In this episode, Dinesh examines the content of the debt extension deal, and spells out the dire implications of the US becoming the world's largest debtor nation. Dinesh argues that the Supreme Court's EPA decision represents an important victory for democracy and property rights. Missouri Attorney General Andrew Bailey joins Dinesh to discuss the developments in his important censorship case against the Biden administration.See omnystudio.com/listener for privacy information.
With Americans owing more than $1.7 trillion in student loan debt, Black and other marginalized students are bearing a disproportionate share of the burden. On today's episode of A Word, Jason Johnson is joined by Braxton Brewington, the spokesperson for The Debt Collective. That organization, dedicated to ending what it considers unjust debt, closed out more than a million dollars owed by students at Bennett College. They talk about what went into making this happen, and the myths about student borrowing that are standing in the way of solutions. Guest: Braxton Brewington, spokesperson for The Debt Collective Podcast production by Jasmine Ellis You can skip all the ads in A Word by joining Slate Plus. Sign up now at slate.com/awordplus for just $1 for your first month. Learn more about your ad choices. Visit megaphone.fm/adchoices
With Americans owing more than $1.7 trillion in student loan debt, Black and other marginalized students are bearing a disproportionate share of the burden. On today's episode of A Word, Jason Johnson is joined by Braxton Brewington, the spokesperson for The Debt Collective. That organization, dedicated to ending what it considers unjust debt, closed out more than a million dollars owed by students at Bennett College. They talk about what went into making this happen, and the myths about student borrowing that are standing in the way of solutions. Guest: Braxton Brewington, spokesperson for The Debt Collective Podcast production by Jasmine Ellis You can skip all the ads in A Word by joining Slate Plus. Sign up now at slate.com/awordplus for just $1 for your first month. Learn more about your ad choices. Visit megaphone.fm/adchoices
With Americans owing more than $1.7 trillion in student loan debt, Black and other marginalized students are bearing a disproportionate share of the burden. On today's episode of A Word, Jason Johnson is joined by Braxton Brewington, the spokesperson for The Debt Collective. That organization, dedicated to ending what it considers unjust debt, closed out more than a million dollars owed by students at Bennett College. They talk about what went into making this happen, and the myths about student borrowing that are standing in the way of solutions. Guest: Braxton Brewington, spokesperson for The Debt Collective Podcast production by Jasmine Ellis You can skip all the ads in A Word by joining Slate Plus. Sign up now at slate.com/awordplus for just $1 for your first month. Learn more about your ad choices. Visit megaphone.fm/adchoices
James Madison, the architect of the written Constitution, said that our nation's founders developed limits on debt that would be ‘clearly visible to the eye of the ordinary politician'. That was then and this is now. While we lived by that well-defined principle for the first 200 years of existence, America has begun to pile … Continue reading EP 372 America: A Debtor Nation
Louis Hyman discusses the rise of the gig economy and how the gig economy is a consequence of “income volatility.” He discusses the ways businesses and the federal government can support gig economy workers as well as the current “productivity paradox.” He then discusses the history of personal debt in the United States and the tools that were created to expand the use of credit. He also discusses changes to the provision of consumer credit post-2008 financial crisis and his thoughts on whether lending institutions will change their practices towards gig economy workers. Finally, he discusses ways businesses are engaging marginalized groups as both labor pools and consumers. Louis Hyman is a historian of work and business at the ILR School of Cornell University, where he also directs the Institute for Workplace Studies in New York City. He has published two books on the history of personal debt (Debtor Nation and Borrow) as well as a book about the history of the rise of consultants, temps, freelancers, and day laborers in our businesses (Temp). A former Fulbright scholar and McKinsey associate, Hyman received his PhD in American history from Harvard University. He teaches the MOOC American Capitalism: A History through EdX and is the founding editor of the Columbia Studies in the History of U.S. Capitalism book series from Columbia University Press. Links from the Episode at presentvaluepodcast.com Faculty Profile: Louis Hyman
Debtor Nation - Michael Heykoop by
Professor Louis Hyman is a historian of work and business at the ILR School of Cornell University, where he also directs the Institute for Workplace Studies in New York City. He has published two books on the history of personal debt (Debtor Nation and Borrow) and a history of how American work became so insecure (Temp). Several months ago Louis wrote a series of Twitter posts which were read by millions of people about the "hidden history" of how African-Americans used the Sears catalog as a way of fighting back against Jim and Jane Crow white racism and white supremacy. Professor Hyman explains how the consumer's republic was and remains a key battleground for civil rights and the color line, the many ways that black Americans used the Sears catalog as a way of participating in day-to-day resistance against segregation and other types of discrimination across the United States, and how Sears and America's suburban mall culture were sites where whiteness was both reproduced and defended. Louis also debunks the very popular (and empowering) myth that Sears was co-founded by a black man. On this week's show, Chauncey DeVega reflects on Ralph Ellison's "Invisible Man" and a recent experience with everyday racism. And in keeping with the theme of this week's show Chauncey also shares a wonderful story about the nationwide network of Sears retirees who gather on a regular basis to socialize, reconnect, and who are keeping the wonderful legacy of that American cultural and retail institution alive. SELECTED LINKS OF INTEREST FOR THIS EPISODE OF THE CHAUNCEY DEVEGA SHOW Louis Hyman homepage Ralph Ellison's “Invisible Man” as a Parable of Our Time Sears Is Dying, but Workers' Loyalty Lives On Butterfly Center Files For Restraining Order Against Trump's ‘Unconstitutional' Border Wall The investigation into Trump's inauguration money looks quite serious “Prevent Any Type of Misappropriation of Funds”: Amid Scrutiny of Trump's Inauguration Spending, Democrats Introduce New Oversight Legislation IF YOU ENJOYED THIS WEEK'S SHOW YOU MAY LIKE THESE EPISODES OF THE CHAUNCEY DEVEGA SHOW AS WELL Ep. 217: David Blight Explains How The Wisdom of Frederick Douglass Can Help to Save American Democracy Ep. 200-2: Joe Feagin on Liberal White Racism and "Colorblind" America Ep. 173: Bandy Lee Continues to Warn the World About Donald Trump's Mental Health Ep. 163: Anti-Black Violence, Whiteness, and the Pleasures of Owning People Ep. 152: Lance Dodes Warns That Donald Trump is Sociopathic WHERE CAN YOU FIND ME? On Twitter: https://twitter.com/chaunceydevega On Facebook: https://www.facebook.com/chauncey.devega My email: chaunceydevega@gmail.com Leave a voicemail for The Chauncey DeVega Show: (262) 864-0154 HOW CAN YOU SUPPORT THE CHAUNCEY DEVEGA SHOW? Via Paypal at ChaunceyDeVega.com Patreon: https://www.patreon.com/thechaunceydevegashow Music at the end of this week's episode of The Chauncey DeVega Show is by JC Brooks & the Uptown Sound. You can listen to some of their great music on Spotify.
In this episode, Niki, Natalia, and Neil debate the “incel” community, the role of race in Mormon history, and the thrift-shaming of millennials. Support Past Present on Patreon: https://www.patreon.com/pastpresentpodcast Here are some links and references mentioned during this week’s show: In the wake of a Toronto terrorist attack, “incels,” or involuntary celibates, are gaining attention. Niki referred to this New York Times article about Jordan Peterson. Natalia cited Jia Tolentino’s New Yorker article on the origins of incel rage, Ross Douthat’s New York Times op-ed raising the possibility of the redistribution of sex, and this Washington Post column by historian Melissa J. Gismondi. Niki referred to this paper by Betsey Stevenson and Justin Wolfers. A hoax letter claiming the LDS Church was apologizing for its history of racism upset many. Natalia cited historian Sarah Barringer Gordon’s book The Mormon Question: Polygamy and Constitutional Conflict in Nineteenth Century America as well as historian Max Perry Mueller’s book Race and the Making of the Mormon People, which he discussed in an interview in The Atlantic. Neil referred to Linda Sillitoe’s book Salamander: The Story of the Mormon Forgery Murders. Financial planning recommendations to millennials are increasingly met with internet outrage. Natalia cited Rebecca Onion’s Slate article on the history of the thrift education movement, and Niki referred to historian Louis Hyman’s book Debtor Nation. In our regular closing feature, What’s Making History: Neil discussed the Guardian article, “Anne Frank’s ‘Dirty’ Jokes Found on Diary Pages She Covered Over.” Natalia talked about Historians on Hamilton: How a Blockbuster Musical is Restaging America’s Past, a new book edited by Claire Potter and Renée Romano. Niki shared this history of commercial flight in the 1930s and this WBUR segment on “What Happens When Someone on Your Flight Has a Medical Emergency.”
I remember clearly the day I was offered my first credit card. It was in Berkeley, CA in 1985. I was walking on Sproul Plaza and I saw a booth manned by two students. They were giving out all kinds of swag, so I walked over to see what was to be had. T-shirts, I think. I asked them if I could get a credit card, sure that the answer had to be “no.” But the answer was an enthusiastic “yes.” I asked them if they understood that: a) I had no income beyond a tiny graduate student stipend; b) that I was carrying a debt from college that had been kindly “deferred”; and c) that my long-term prospects, money-making wise, were poor (the market in early Russian history degrees not being very hot). They said they didn't know any of that, but it didn't matter. All I had to do was to fill out a form and the card would arrive in the mail. I declined. As Louis Hyman tells us in his excellent and important Debtor Nation: The History of America in Red Ink (Princeton UP, 2011), it wasn't always so. Before the 1920s, most people could get no credit at all, least of all from a financial institution. But then, thanks to a confluence of odd interests, consumer credit expanded mightily. Companies that made expensive stuff (cars) and companies that handled large pools of idle money (banks) found, much to their surprise that if you lent ordinary folks large sums of money at moderate interest, they would pay it back. The producers and banks lent more; consumers borrowed and bought more; and, in turn, the producers and banks used higher profits to increase productivity, putting still more money in the pockets of consumers. And so the cycle continued, ultimately fostering the largest expansion in production and consumption the world had ever seen. Whether it will continue is a subject of some dispute today. A review of Debtor Nation can be found in Public Books here. Learn more about your ad choices. Visit megaphone.fm/adchoices
I remember clearly the day I was offered my first credit card. It was in Berkeley, CA in 1985. I was walking on Sproul Plaza and I saw a booth manned by two students. They were giving out all kinds of swag, so I walked over to see what was to be had. T-shirts, I think. I asked them if I could get a credit card, sure that the answer had to be “no.” But the answer was an enthusiastic “yes.” I asked them if they understood that: a) I had no income beyond a tiny graduate student stipend; b) that I was carrying a debt from college that had been kindly “deferred”; and c) that my long-term prospects, money-making wise, were poor (the market in early Russian history degrees not being very hot). They said they didn’t know any of that, but it didn’t matter. All I had to do was to fill out a form and the card would arrive in the mail. I declined. As Louis Hyman tells us in his excellent and important Debtor Nation: The History of America in Red Ink (Princeton UP, 2011), it wasn’t always so. Before the 1920s, most people could get no credit at all, least of all from a financial institution. But then, thanks to a confluence of odd interests, consumer credit expanded mightily. Companies that made expensive stuff (cars) and companies that handled large pools of idle money (banks) found, much to their surprise that if you lent ordinary folks large sums of money at moderate interest, they would pay it back. The producers and banks lent more; consumers borrowed and bought more; and, in turn, the producers and banks used higher profits to increase productivity, putting still more money in the pockets of consumers. And so the cycle continued, ultimately fostering the largest expansion in production and consumption the world had ever seen. Whether it will continue is a subject of some dispute today. A review of Debtor Nation can be found in Public Books here. Learn more about your ad choices. Visit megaphone.fm/adchoices
I remember clearly the day I was offered my first credit card. It was in Berkeley, CA in 1985. I was walking on Sproul Plaza and I saw a booth manned by two students. They were giving out all kinds of swag, so I walked over to see what was to be had. T-shirts, I think. I asked them if I could get a credit card, sure that the answer had to be “no.” But the answer was an enthusiastic “yes.” I asked them if they understood that: a) I had no income beyond a tiny graduate student stipend; b) that I was carrying a debt from college that had been kindly “deferred”; and c) that my long-term prospects, money-making wise, were poor (the market in early Russian history degrees not being very hot). They said they didn’t know any of that, but it didn’t matter. All I had to do was to fill out a form and the card would arrive in the mail. I declined. As Louis Hyman tells us in his excellent and important Debtor Nation: The History of America in Red Ink (Princeton UP, 2011), it wasn’t always so. Before the 1920s, most people could get no credit at all, least of all from a financial institution. But then, thanks to a confluence of odd interests, consumer credit expanded mightily. Companies that made expensive stuff (cars) and companies that handled large pools of idle money (banks) found, much to their surprise that if you lent ordinary folks large sums of money at moderate interest, they would pay it back. The producers and banks lent more; consumers borrowed and bought more; and, in turn, the producers and banks used higher profits to increase productivity, putting still more money in the pockets of consumers. And so the cycle continued, ultimately fostering the largest expansion in production and consumption the world had ever seen. Whether it will continue is a subject of some dispute today. A review of Debtor Nation can be found in Public Books here. Learn more about your ad choices. Visit megaphone.fm/adchoices
I remember clearly the day I was offered my first credit card. It was in Berkeley, CA in 1985. I was walking on Sproul Plaza and I saw a booth manned by two students. They were giving out all kinds of swag, so I walked over to see what was to be had. T-shirts, I think. I asked them if I could get a credit card, sure that the answer had to be “no.” But the answer was an enthusiastic “yes.” I asked them if they understood that: a) I had no income beyond a tiny graduate student stipend; b) that I was carrying a debt from college that had been kindly “deferred”; and c) that my long-term prospects, money-making wise, were poor (the market in early Russian history degrees not being very hot). They said they didn’t know any of that, but it didn’t matter. All I had to do was to fill out a form and the card would arrive in the mail. I declined. As Louis Hyman tells us in his excellent and important Debtor Nation: The History of America in Red Ink (Princeton UP, 2011), it wasn’t always so. Before the 1920s, most people could get no credit at all, least of all from a financial institution. But then, thanks to a confluence of odd interests, consumer credit expanded mightily. Companies that made expensive stuff (cars) and companies that handled large pools of idle money (banks) found, much to their surprise that if you lent ordinary folks large sums of money at moderate interest, they would pay it back. The producers and banks lent more; consumers borrowed and bought more; and, in turn, the producers and banks used higher profits to increase productivity, putting still more money in the pockets of consumers. And so the cycle continued, ultimately fostering the largest expansion in production and consumption the world had ever seen. Whether it will continue is a subject of some dispute today. A review of Debtor Nation can be found in Public Books here. Learn more about your ad choices. Visit megaphone.fm/adchoices
I remember clearly the day I was offered my first credit card. It was in Berkeley, CA in 1985. I was walking on Sproul Plaza and I saw a booth manned by two students. They were giving out all kinds of swag, so I walked over to see what was to be had. T-shirts, I think. I asked them if I could get a credit card, sure that the answer had to be “no.” But the answer was an enthusiastic “yes.” I asked them if they understood that: a) I had no income beyond a tiny graduate student stipend; b) that I was carrying a debt from college that had been kindly “deferred”; and c) that my long-term prospects, money-making wise, were poor (the market in early Russian history degrees not being very hot). They said they didn’t know any of that, but it didn’t matter. All I had to do was to fill out a form and the card would arrive in the mail. I declined. As Louis Hyman tells us in his excellent and important Debtor Nation: The History of America in Red Ink (Princeton UP, 2011), it wasn’t always so. Before the 1920s, most people could get no credit at all, least of all from a financial institution. But then, thanks to a confluence of odd interests, consumer credit expanded mightily. Companies that made expensive stuff (cars) and companies that handled large pools of idle money (banks) found, much to their surprise that if you lent ordinary folks large sums of money at moderate interest, they would pay it back. The producers and banks lent more; consumers borrowed and bought more; and, in turn, the producers and banks used higher profits to increase productivity, putting still more money in the pockets of consumers. And so the cycle continued, ultimately fostering the largest expansion in production and consumption the world had ever seen. Whether it will continue is a subject of some dispute today. A review of Debtor Nation can be found in Public Books here. Learn more about your ad choices. Visit megaphone.fm/adchoices