Credit cards have removed the "liquidity constraint" that restricted the spending power of millions of consumers, democratizing access to credit and spending power.

Question

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Credit cards have indeed removed the liquidity constraint for many consumers by providing them with access to credit. This allows individuals to make purchases even when they do not have immediate funds available, thereby democratizing access to credit and increasing spending power.

Credit Cards Have Removed the "Liquidity Constraint" That Restricted the Spending