As this graph indicates, in the early 1950s a high proportion of bankrupts were people who ran their own businesses – so their bankruptcy was usually a result of a business failure. By the 1980s a smaller proportion of bankrupts were business owners, and more were employees or unemployed people who ran into financial trouble from excessive personal spending.
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Te Ara - The Encyclopedia of New Zealand
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Source: New Zealand Official Yearbook
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Anne (not verified)
26 July 2012
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