” As a general rule, durable-goods production tends to be the most volatile sector of the economy. Since people usually have a stock of durables in use, when times get tight, they put off new purchases. What seem like small cutbacks to the end buyer translate into big swings for the producer. “


” The evergreen story of people in debt becomes even sexier in an economic downturn, when debts inevitably get harder to pay. “


” When credit is cheaper to use and easier to arrange, people do use more of it. “


” Rich people in poor places want to show off their wealth. And their less affluent counterparts feel pressure to fake it, at least in public. Nobody wants the stigma of being thought poor. “



All 4 Virginia Postrel Quotes about People in picture


As a general rule, durable-goods production tends to be the most volatile sector of the economy. Since people usually have a stock of durables in use, when times get tight, they put off new purchases. What seem like small cutbacks to the end buyer translate into big swings for the producer.
The evergreen story of people in debt becomes even sexier in an economic downturn, when debts inevitably get harder to pay.


When credit is cheaper to use and easier to arrange, people do use more of it.
Rich people in poor places want to show off their wealth. And their less affluent counterparts feel pressure to fake it, at least in public. Nobody wants the stigma of being thought poor.
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