--- title: "Meaning & Key Takeaway of: In response to the drop in wealth…" description: "\"In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in finan..." image: "https://sms4smile.com/quotes/i/352/dale-t-mortensen-36863_assets_in-response-to-the-drop-in-wealth-suffer_1067217.jpg" --- # In response to the drop in wealth suffered as a… ![“In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables.” quote by Dale T. Mortensen](https://sms4smile.com/quotes/i/352/dale-t-mortensen-36863_assets_in-response-to-the-drop-in-wealth-suffer_1067217.jpg) [Download](https://sms4smile.com/quotes/i/352/dale-t-mortensen-36863_assets_in-response-to-the-drop-in-wealth-suffer_1067217.jpg) [Open image](https://sms4smile.com/quotes/i/352/dale-t-mortensen-36863_assets_in-response-to-the-drop-in-wealth-suffer_1067217.jpg) > “In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables.” [Dale T. Mortensen](https://sms4smile.com/quotes/author/dale-t-mortensen/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Households and firms cut spending on long‑lasting goods to boost savings after the crisis. **In simple terms:** People saved by spending less on durable items. Key Takeaway Save by reducing non‑essential purchases. Themes economics behavior crisis saving Mood analytical neutral informative Type statement analysis When to use this quote - household budgeting - corporate finance - policy analysis - personal finance Key Concepts consumption intertemporal choice financial stability Questions to Reflect On - How does reduced durable spending affect future economic growth? - Can increased savings offset lower consumption? A Different Perspective May overlook long‑term growth from investment in durables. ★ ★ ★ ★ ★ No ratings yet [Consequence](https://sms4smile.com/quotes/about/consequence/) [Crisis](https://sms4smile.com/quotes/about/crisis/) [Financial crisis](https://sms4smile.com/quotes/about/financial-crisis/) [Money](https://sms4smile.com/quotes/about/money/) [Savings](https://sms4smile.com/quotes/about/savings/) [Wealth](https://sms4smile.com/quotes/about/wealth/) ## Related quotes > [It is plainly evident that, in a country where land was to be had for the asking, fuel for the cutting, corn for the…](https://sms4smile.com/quotes/alice-morse-earle/it-is-plainly-evident-that-in-a-country-where-land-was-to-be-had-for/) [Alice Morse Earle](https://sms4smile.com/quotes/author/alice-morse-earle/) > [“The nobelest expenditure is that which is made in the Divine Service ”](https://sms4smile.com/quotes/aristotle/the-nobelest-expenditure-is-that-which-is-made-in-the-divine-service/) [Aristotle](https://sms4smile.com/quotes/author/aristotle/) > [Expenditure now attracts fame as conquest once did.](https://sms4smile.com/quotes/mason-cooley/expenditure-now-attracts-fame-as-conquest-once-did/) [Mason Cooley](https://sms4smile.com/quotes/author/mason-cooley/) > [Everyone is always in favour of general economy and particular expenditure.](https://sms4smile.com/quotes/anthony-eden/everyone-is-always-in-favour-of-general-economy-and-particular/) [Anthony Eden](https://sms4smile.com/quotes/author/anthony-eden/) > [“And every year the Pentagon bite of the federal dollar got bigger and bigger. 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