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THE PSYCHOLOGY OF MONEY - Commented Book
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The Great Depression: A Simple Story in a Simple Table
After 1945, America again diverged from patterns of savings promotion in Europe and East Asia. Politicians, businessmen and labor leaders all encouraged Americans to spend to foster economic growth. Pent up demand for stuff fed by a credit boom and a hidden 1930s productivity boom led to an economic boom. Household debt in the 1950s grew one and a half times faster than it did during the 2000s debt splurge.
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