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“We certainly consume a lot more stuff. This is a well known fact, whether you look at statistics or whether you just take a trip to Europe and look at how many cars per family they have over there, the size of the cars, the size of the apartments, so we certainly have higher consumption,” says Professor Bruce Sacerdote in a Yahoo! News story about what it would be like if Americans had as much paid vacation as Europeans. “So our household would have to cut back to one iPad from two and obviously that would just be horrific.”

Sacerdote is the Richard S. Braddock 1963 Professor in Economics and chair of the Department of Economics.