Deindustrialization and Credit
This post was written by John on May 23, 2011
Posted Under: Cultural,Commentary,Deming,Statistical Thinking
Posted Under: Cultural,Commentary,Deming,Statistical Thinking
The table below shows clearly that as industrialization waned, household credit increased. My explanation is that this is what Deming predicted. As wealth creation stopped, U. S. citizens, used to ever-increasing standard of living, turned to credit to finance their lifestyle choices.
Reader Comments
John – this IS interesting! I actually love data – just never quite got underneath all the theoretical stuff having to do with stats. Now, on to find out who or what Deming is…..