Michael Dawson had an interesting figure on the depletion of savings after World War II. Like Carroll yesterday, the figures seemed to extreme to be credible. I went to the source that Michael mentioned. But Kolko gave no references.
Kolko, Gabriel. 1976. Main Currents in Modern American History (NY: Harper & Row). 317: By 1947 the huge reserve of personal savings was virtually spent, dropping in two years from $37 billion in 1944 to less than $5 billion in 1947." -- Michael Perelman Economics Department California State University michael at ecst.csuchico.edu Chico, CA 95929 530-898-5321 fax 530-898-5901
