Beyond our means [electronic resource] : why America spends while the world saves / Sheldon Garon.

9781400839407 (electronic book)
9780691135991

Princeton, N.J. : Princeton University Press, c2012.

English

1 online resource (475 p.) : ill.

HC79.S3 G37 2012eb

339.4/3

If the financial crisis has taught us anything, it is that Americans save too little, spend too much, and borrow excessively. What can we learn from East Asian and European countries that have fostered enduring cultures of thrift over the past two centuries? Beyond Our Means tells for the first time how other nations aggressively encouraged their citizens to save by means of special savings institutions and savings campaigns. The U.S. government, meanwhile, promoted mass consumption and reliance on credit, culminating in the global financial meltdown. Many economists believe people save accord[ingly.]

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