Attitude of the Year: The New Frugality

The New Frugality

ONCE IN A GREAT WHILE, A DEEPLY FELT NOTION SEEMS TO grip almost everyone at the same time. In 1991 Americans said, "Enough," and became sensible again. Out went heedless consumerism, the cult of the new, the expectations of Having It All. As the 1980s began to come into focus as a misguided era of borrowed luxury, Americans got back to basics. They cut down on spending, started to pay off their debts and learned to make do with less. It happened just in time. The recession, which at first seemed quick and painless, took a scary dive for the worse....

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