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The Role of Consumer Credit in the Drop in Consumer Spending in the 1930s
The personal savings rate for the United States fell from 7.1% between 1898 and 1916 to 4.4% from 1922 to 1929. And I'm curious to hear you trace the contours of consumer credit through that period. So before the 1920s, the common consumer durables were furniture and household appliances,. jewelry, books, carpets, pianos, pianos were very important. Then starting... That was a K. Pardon me?