The Roaring Twenties featured a large expansion in debt and stock market investment, with people living beyond their means expecting to manage it—paralleling the recent housing crisis where high mortgages became unaffordable as prices fell and incomes stagnated, though the 1930s problem was more widespread than a single sector.

factualpending

Speaker

Douglas Irwin

Evidence Quote

a lot of people are living beyond their means because they figure, well we'll we'll be able to handle it

Source

Douglas Irwin on the Great Depression and the Gold Standard 10/11/2010EconTalk
Created: 6/15/2026, 9:36:56 AM

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