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Stuart Vyse is Professor of Psychology at Connecticut College, in New London. In his new book, Going Broke: Why Americans Can’t Hold On To Their Money, he offers a unique psychological perspective on the financial behavior of the many Americans today who find they cannot make ends meet, illuminating the causes of our wildly self-destructive spending habits. In the article below he looks at how credit cards lead to debt problems. Read Vyse’s other posts here.
Suddenly cash isn’t quick enough for our fast-paced world. If you want to be happy and efficient and avoid the critical stares of cashiers and fellow customers, you need to swipe or tap a card and keep the line moving. According to the latest round of credit card commercials, checks and cash are just so 20th Century. (more…)
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By: Rebecca,
on 9/11/2007
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Sark, United Kingdom
Coordinates: 49 25 N 2 22 W
Approximate area: 2 square miles (5 sq km)
Times change, and with them, people and places are carried along on the tide of modernization. But not always. On the tiny island of Sark in the English Channel, feudalism has clung, virtually unnoticed, to its rocky shores since the Middle Ages. In fact, this hereditary form of rule hung on long enough to make it the only feudal territory left on Europe, a continent known (among political geographers at least) for its microstates and puny principalities. (more…)
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