
Shortchanged
Description
¿The first book to chronicle how the fringe economy ruthlessly and systematically exploits the poor and middle classes
¿The number of people affected by the fringe economy is enormous-it's not just poor immigrants, but working and middle class families who are affected
¿Author provides both the hard facts and personal stories-has scores of shocking real-life examples
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, check 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.
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Content
Acknowledgments
Part I: Overview of the Fringe Economy
1: America’s Changing Fringe Economy
2: Why the Fringe Economy Is Growing
3: Debt and the Functionally Poor Middle Class
Part II: The Fringe Sectors
4: The Credit Card Industry
5: Storefront Loans: Pawnshops, Payday Loans, and Tax Refund Lenders
6: Alternative Services: Check-Cashers, the Rent-to-Own Industry, and Telecommunications
7: Fringe Housing
8: Real Estate Speculation and Foreclosure
9: The Fringe Auto Industry
10: The Getting-Out-of-Debt Industry
Part III: Looking Forward
11: What Can Be Done to Control the Fringe Economy?
Glossary
Notes
Index
About the Author