Saturday, October 3, 2009

The development of credit cards boosts inflation

The credit card is a major financial innovations of the past 40 years, theoretical research has been slow to consider its implications, such as monetary policy. Today, American economists show its major impact on inflation.The card Diners Club in 1950, but the first plastic card comes from American Express in 1957. The development of this new payment method was then extremely fast.

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