whoever taught you money math never explained why the poor pay more to borrow it.
means the ability to borrow money at reasonable terms, which is unevenly distributed and quietly shapes who gets to build wealth at all.
from the term formalized in mid-20th-century banking and development economics, but the divide is ancient: usury laws in babylon and rome already policed who could lend to whom, and at what rate, because access to credit has always meant access to opportunity.
grameen bank — muhammad yunus lent to bangladeshi villagers starting 1983, no collateral
community reinvestment act — 1977 US law forcing banks to lend in the neighborhoods they take deposits from
m-pesa kenya — mobile money let unbanked kenyans build credit history via phone since 2007
fico score rollout — 1989 standardized scoring that decided who counted as creditworthy in america