HBSP (USA)
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Consumer Credit: The Next Crisis
Jarvis, William; MacMillan, Ian C.Article HBS-W0906B-EMarketingThe degree to which consumers have come to depend on easy, inexpensive credit is a far greater threat to the economy than most realize. To pay it off, the average U.S. consumer would have to hand over every penny of his take-home pay for 16 months. And in all that time he wouldn't be able to buy anything else--no clothes, food, coffee, nothing. Okay, so no one is going to do that. But what will people do? Individual decisions to cut back on consu...Starting at €8.20