Consumer debt has a way of trapping one’s life into a holding pattern

“The habituation of workers to the assembly line was made easier by another innovation of the early twentieth century: consumer debt. As Jackson Lears has argued, through the installment plan previously unthinkable acquisitions became thinkable, and more than thinkable: it became normal to carry debt. The display of a new car bought on installment became a sign that one was trustworthy. In a wholesale transformation of the old Puritan moralism, expressed by Benjamin Franklin (admittedly no Puritan) with the motto ‘Be frugal and free’, the early twentieth century saw the moral legitimation of spending. One symptom Lears points to is a 1907 book with the immodest title The New Basis of Civilization, by Simon Nelson Patten, in which the moral valence of debt and spending is reversed, and the multiplication of wants becomes not a sign of dangerous corruption but part of the civilizing process. That is, part of the disciplinary process. As Lears writes, ‘Indebtedness could discipline workers, keeping them at routinized jobs in factories and offices, graying but in harness, meeting payments regularly.'”
–Matthew Crawford, Shop Class as Soulcraft (2009)