A different kind of economic growth

I was not around during the Great Depression, but I do know that it had such a profound effect on my grandfather that he would only pay cash. Loans and credit cards were out of the question; if he didn't have the cash, he would not buy whatever it is he needed. It could be a little frustrating for family and many found it peculiar, but, in retrospect, I think he had it right. Read The Mil & Aero Blog online.

Jan 15th, 2009

Posted by Courtney E. Howard

I was not around during the Great Depression, but I do know that it had such a profound effect on my grandfather that he would only pay cash. Loans and credit cards were out of the question; if he didn't have the cash, he would not buy whatever it is he needed. If we bought him a nice sweater, shirt, watch, or engraved pen, he would thank us but then put it away in a closet until such time as the ones he was using wore out. If he already had perfectly good shirts, why spend money on new ones, he would quip. It could be a little frustrating for family and many found it peculiar, but, in retrospect, I think he had it right. Read The Mil & Aero Blog online at www.pennwellblogs.com/mae.

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