In her book IN HOCK; Pawning in America from Independence through the Great Depression, author Wendy A. Woloson reveals the remarkable journey of pawnbrokers in America in a way that could only be accomplished through passionate historical research, inside industry assistance, and a brilliant scholarly mind. Woloson pulls back the curtain to expose this wretchedly misunderstood industry in a fair and accurate light by detailing how pawnbroking came to America, why pawnbrokers operate in America, and why the industry remains an important source of short-term consumer credit in the US.



The author excels at explaining common myths and misconceptions of this much belittled industry by documenting many historic pawnbroking transactions both above board and below. Woloson does very well in illustrating why the industry's tarnished reputation has been overplayed by those lacking direct experience with pawnshops. The author also does a masterful job at showing how and why anti-Semitic stereotypes found their way into viewpoints of the pawnbroking industry and remained there for many years.



This book will be well enjoyed by anyone with an interest in American history, the economic foundation of America, fringe credit sources and the customers served by them, and more especially by anyone seeking a greater understanding of the unbanked and under banked people in America. For these are the main customers of pawnbrokers.



Pawnonomics: A Tale of The Historical, Cultural, and Economic Significance of the Pawnbroking Industry