Word: thriftier
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Dates: during 1960-1969
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Americans are generally becoming much thriftier-personal savings have jumped from 4.9% of after-tax income in 1963 to 7.5% now-but they tend to save less of their pay than do the Europeans. The highest savers of all are the Japanese, whose people, companies and government together save and reinvest 36% of the gross national product-compared with 18% in the U.S. Emphasizing tomorrow's growth at the expense of today's income, Japan this year will rank third in the world in G.N.P., after the U.S. and the U.S.S.R., but 20th in per-capita income...