The rise of specialty catalog sales in the early 1970s—and later internet niche markets—was enabled chiefly by two developments: computer databases and, even more importantly, credit cards (Visa/MasterCard) acting as trusted intermediaries that let small specialty sellers avoid running their own credit business while assuring buyers of recourse.

causalpending

Speaker

Virginia Postrel

Evidence Quote

credit cards that act as trusted intermediaries for both parties.

Source

Virginia Postrel on Style 11/27/2006EconTalk
Created: 6/17/2026, 10:31:39 AM

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