The Public Interest

Savings-and-Investment and Other Myths

Peter L. Berstein

Spring 1992

WHY ARE grim-faced CEOs of American automobile companies, discouraged by the collapse of their home markets, seeking less thrifty customers in, of all places, Japan? What explains the proliferation of "For Rent" signs in the storefronts of our cities and towns--gruesome documentation of the leap in retailing bankruptcies from 12,500 in 1990 to [7,000 last year? Why was the Christmas shopping season a disaster, why are newspapers and magazines getting skinnier as advertising vanishes, and why are banks finally cutting the interest rate they charge on instalhnent credit?

Download a PDF of the full article.



from the


A weekly newsletter with free essays from past issues of National Affairs and The Public Interest that shed light on the week's pressing issues.


to your National Affairs subscriber account.

Already a subscriber? Activate your account.


Unlimited access to intelligent essays on the nation’s affairs.

Subscribe to National Affairs.