explain why using credit to buy products and services was not common before 1920.
Struggling with where to start this assignment? Follow this guide to tackle your assignment easily!
Step 1: Understand the Historical Context
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Before 1920, buying on credit was rare.
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Main reasons:
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Economic conditions → low wages, unstable incomes.
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Cultural views → debt was seen as shameful.
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Technological limits → no credit cards, no electronic systems.
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Weak regulatory frameworks → banks and stores hesitant to lend.
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Step 2: Create a Thesis Statement
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Example:
“The limited use of credit before 1920 was shaped by cultural resistance to debt, economic realities, and a lack of financial infrastructure, which together delayed the rise of consumer credit.”
Step 3: Structure Your Paper
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Introduction
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Hook: Mention how credit cards and financing are common today but were almost nonexistent a century ago.
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Provide background on pre-1920 consumer culture.
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State your thesis.
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Body Paragraphs
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Paragraph 1: Economic conditions (low wages, instability, lack of disposable income).
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Paragraph 2: Cultural attitudes toward debt (seen as irresponsible or shameful).
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Paragraph 3: Technological limitations (absence of modern credit systems).
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Paragraph 4: Lack of supportive laws or financial regulations.
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Conclusion
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Summarize why credit was limited.
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Contrast with today’s widespread use of credit.
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Suggest how this shift transformed consumer behavior.
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Step 4: Support with Evidence
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Reference historical records of banking practices.
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Mention when credit systems like installment plans began spreading (1920s).
Step 5: Revise and Proofread
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Make sure arguments flow logically from cultural → economic → technological → regulatory.
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Ensure your conclusion ties back to the thesis.
Step 6: Formatting
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Follow your instructor’s citation style.
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Cite textbooks, economic history articles, or primary sources.
Helpful Resources for Research & Writing
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Why Credit Use Was Limited Before 1920 appeared first on Skilled Papers.
