Beyond Our Means

Why America Spends While the World Saves

Business & Finance, Accounting, Budgeting, Economics, Economic History, Nonfiction, History
Cover of the book Beyond Our Means by Sheldon Garon, Princeton University Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Sheldon Garon ISBN: 9781400839407
Publisher: Princeton University Press Publication: October 31, 2011
Imprint: Princeton University Press Language: English
Author: Sheldon Garon
ISBN: 9781400839407
Publisher: Princeton University Press
Publication: October 31, 2011
Imprint: Princeton University Press
Language: English

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 of indigenous traditions but a modern movement to confront rising consumption. Around the world, messages to save and spend wisely confronted citizens everywhere--in schools, magazines, and novels. At the same time, in America, businesses and government normalized practices of living beyond one's means.

Transnational history at its most compelling, Beyond Our Means reveals why some nations save so much and others so little.

Some images inside the book are unavailable due to digital copyright restrictions.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

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 of indigenous traditions but a modern movement to confront rising consumption. Around the world, messages to save and spend wisely confronted citizens everywhere--in schools, magazines, and novels. At the same time, in America, businesses and government normalized practices of living beyond one's means.

Transnational history at its most compelling, Beyond Our Means reveals why some nations save so much and others so little.

Some images inside the book are unavailable due to digital copyright restrictions.

More books from Princeton University Press

Cover of the book When Insurers Go Bust by Sheldon Garon
Cover of the book Frontier Fictions by Sheldon Garon
Cover of the book Kierkegaard's Writings, XVII, Volume 17 by Sheldon Garon
Cover of the book The Jewish Social Contract by Sheldon Garon
Cover of the book Karl Marx by Sheldon Garon
Cover of the book The Global Condition by Sheldon Garon
Cover of the book On Gaia by Sheldon Garon
Cover of the book The Formation of Turkish Republicanism by Sheldon Garon
Cover of the book Towing Icebergs, Falling Dominoes, and Other Adventures in Applied Mathematics (New in Paperback) by Sheldon Garon
Cover of the book Hypoelliptic Laplacian and Orbital Integrals (AM-177) by Sheldon Garon
Cover of the book The Secrets of Pirate Management by Sheldon Garon
Cover of the book Producing Security by Sheldon Garon
Cover of the book Worldly Philosopher by Sheldon Garon
Cover of the book Culture and Redemption by Sheldon Garon
Cover of the book Guesstimation by Sheldon Garon
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy