5min chapter

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The Roaring Twenties And The Birth Of Consumer Credit - Martha Olney

The Joe Walker Podcast

CHAPTER

The Politics of Consumer Finance in the 1920s

Raghuram Rajan talks about the let the meet credit view of the US housing bubble. The rich have a low marginal propensity to consume than the poor, he says. And how do they get a return on that? He asks whether there was a similar dynamic happening during the 1920s because inequality is increasing.

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