"Although the 1930s were very hard times for the United States, not every industry or business declined. As the economy shifted massively from capital goods to consumer goods, some industries - such as steel, rubber, coal, glass, railroads, and building - suffered greatly, but consumer brands such as Kellogg’s hit their stride. Campgrounds and motels blossomed along highways. Airline passenger traffic grew robustly. Entertainment surged with the growth of the radio and movie industries, and of their audience, during the Golden Age of Hollywood."
January 16, 2011
Examples of growth in hard times
Reading this interesting McKinsey Quarterly article, I was struck by this paragraph: