commissioner.org
| Source | Daniel Davies |
| Date | 03/12/28/22:33 |
| On Sun, 28 Dec 2003 michael wrote:
> Michael Dawson had an interesting figure on the > depletion of savings after World War II. The > figures seemed too extreme to be credible. I > went to the source that Michael mentioned. > But Kolko gave no references. > Kolko, Gabriel. 1976. Main Currents in Modern > American History (NY: Harper & Row). > p317: By 1947 the huge reserve of personal > savings was virtually spent, dropping in two > years from $37 billion in 1944 to less than $5 > billion in 1947." Not necessarily that extreme; remember that savings is the difference between two large numbers (income and expenditure) and so you have to expect volatility. |
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