Word: consumerization
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What Incentives? In short, Cripps's program offers to British workers no immediate prospect but more sweat, and to British housewives only more tears of frustration over shortages. If Cripps could dangle before British workers no carrot in the form of more food and consumer goods, what incentives would...
The bankers did not need the warning. The American Bankers' Association had already asked its 15,000 members to stick to the one-third deposit in automobile financing, soft-pedal loans in other lines. Consumer credit now totals $11 billion, far above any prewar figure. With personal income running...
Less precise but more emphatic was Edwin G. Nourse, chairman of President Truman's Economic Advisory Council (see NATIONAL AFFAIRS). Unless consumer credit expansion was checked, said Economist Nourse, "the hopeful 1950s would revert to the distressing conditions of the 1930s." Nourse had a powerful ally in Senator Robert...
"The price the consumer is asked to pay for shoes is high-very high; the immediate outlook is that it will be higher." So said Edward C. Orr, president of the National Shoe Retailers Association, at the opening of the National Shoe Fair in Chicago last week. By the time...
The manufacturers had gone for replacement pricing, all right, and they had done something else, too. Many of them began to cut back production long before last May, thereby shoring up prices-and profits. Shoe sales dropped about 20% in the first half of this year, more because of consumer...