Is the Newly Frugal Consumer a Myth?

by Benjamin Domenech on 1:09 am October 6, 2009

“While the decline in the savings rate and the growth in household indebtedness since 1980 has in part reflected a shift toward more consumption, conspicuous consumption in the classic sense has not been the biggest driver of declining savings. Instead, the growth in indebtedness has largely been driven by demographic changes and housing prices.”

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