Joseph Stiglitz.
The global equation: Growth = Debt - The Drum Opinion - The constant complaint over the global financial crisis and ongoing recessions focuses on debt. But capitalist growth equals monetary debts. Find More Stories The global equation: Growth = Debt Anitra Nelson. Layaway. “Buy now, pay later” has long been the unofficial mantra of American retailing.
But this holiday season plenty of American shoppers have gone the other way—paying first and buying later. ’Tis the season of layaway. Not long ago, layaway looked like a relic, thanks to the widespread availability of credit cards. The dismal economy has changed all that. As early as the fall of 2008, with the recession in full swing, Kmart started a campaign pushing layaway, and, as shoppers embraced the idea, retailers across the country have made it a big part of their holiday sales drive.
Walmart had killed its layaway program for everything but jewelry in 2006. Fiscal and Monetary Policy.