Word: lebergott
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...Americans manage to buy all this stuff during a quarter-century of declining purchasing power? And why are so many nonetheless feeling harried and insecure? "People bitch to their maximum ability," answers Stanley Lebergott, professor of economics at Wesleyan University. Many people too have forgotten how meanly, by today's standards, they or their parents once lived: no cable TV, no cellular phones, no microwave ovens, sometimes not even indoor parking. Only 58% of newly built houses had garages...
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