The never-never

Abstract

Hire-purchase began when traders first thought of letting many of their customers spread the cost of goods over a period of time. Years ago the idea of not paying for goods with cash was frowned on. The world was divided fairly sharply into those who had plenty of money and could afford the better things of life — and so did not need credit — and those who had barely enough money to buy necessities — and so were not given credit because the traders would never have got any money.