What's the Rate for a Layaway?

摘要

A sign that the U.S. economy is suffering was the return and re-emphasis in 2011 of Christmas "layaway" plans at stores. These plans are a form of extending credit to customers, and many customers are grateful for the opportunity [Codispoti 2011, comments]. Louis Hyman [2011] recently criticized layaway plans for "playing on the economic insecurity of ... customers," "a bad deal for everyone"-except the merchant, and a result of "the desperation arising from many Americans' inability to borrow, save and, most important, earn."