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Beyond Our Means : Why America Spends While the World Saves by Garon, Sheldon is a nonfiction available to read on EtoBox.

What is Beyond Our Means : Why America Spends While the World Saves about?

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 according to universally rational calculations, saving the most in their middle years as they plan for retirement, and saving the least in welfare states. In reality, Europeans save at high rates despite generous welfare programs and aging populations. Americans save little, despite weaker social safety nets and a younger population. Tracing the development of such behaviors across three continents from the nineteenth century to today, this book highlights the role of institutions and moral suasion in shaping habits of saving and spending. It shows how the encouragement of thrift was not a relic

Who reads Beyond Our Means : Why America Spends While the World Saves?

Author

Garon, Sheldon

Publisher

Princeton University Press

Published

2011

Language

EN

ISBN

9781400839407

Category

nonfiction

Subjects

Business, History, Finance