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The definitive history of pawnbroking in the United States from the nations founding through the Great Depression, In Hock demonstrates that the pawnshop was essential to the rise of capitalism. The class of working poor created by this economic tide could make ends meet only, Wendy Woloson argues, by regularly pawning household objects to supplement inadequate wages. Nonetheless, businessmen, reformers, and cultural critics claimed that pawnshops promoted vice, and employed antiSemitic stereotypes to cast their proprietors as greedy and coldhearted. Using personal correspondence, business records, and other rich archival sources to uncover the truth behind the rhetoric, Woloson brings to life a diverse cast of characters and shows that pawnbrokers were in fact shrewd businessmen, often from humble origins, who possessed sophisticated knowledge of a wide range of goods in various resale markets.A muchneeded new look at a misunderstood institution, In Hock is both a firstrate academic study of a largely ignored facet of the capitalist economy and a resonant portrait of the economic struggles of generations of Americans.
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