Business: Facts on Instalment

Year ago, the highly reputable National Bureau of Economic Research got a fund from the Rockefeller Foundation and the Association of Reserve City Bankers to study instalment credit. It found a red-haired University of Pennsylvania professor named Ralph Young, and a black-haired Hunter College girl named Blanche Bernstein who knew her onions, having plowed through difficult statistical jobs with NRA, WPA, U. S. Department of Labor, etc. These two, with three assistants, were set up in N.B.E.R.'s financial research workshop—an estate (next door to Arturo Toscanini), in swank Riverdale, N. Y., with tennis...

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