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Wasn't this sort of thing pretty much started by the Stratemeyer (sp?) Syndicate books? Nancy Drew/Hardy Boys/Tom Swift/etc (which started around 1900, I think).
It was the first deliberate attempt to aim books at people younger than adults (rather than books to read to children).
And it was invented because the term "Young Adult" used to be the term used for "teenager" (which didn't come into widespread use until 1930 or so).
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