If social security depresses savings rates, it is only because it is unfunded.
Only in very recent times has the average man been a source of savings.john kenneth galbraith
The most serious problems lie in the financial sphere, where the economy’s debt overhead has grown more rapidly than the ‘real’ economy’s ability to carry this debt. ... The essence of the global financial bubble is that savings are diverted to inflate the stock market, bond market and real estate prices rather than to build new factories and employ more labor.michael hudson
If social security depresses savings rates, it is only because it is unfunded.robert kuttner
Wealth can only be accumulated by the earnings of industry and the savings of frugality.john tyler
" workers then have a strong stake in the preservation of the very system that exploits them because the destruction of that system entails the destruction of their savings."david harvey
" To dig holes in the ground ", paid for out of savings, will increase, not only employment, but the real national dividend of useful goods and services. It is not reasonable, however, that a sensible community should be content to remain dependent on such fortuitous and often wasteful mitigations when once we understand the influences upon which effective demand depends.john maynard keynes
With Americans worried about losing their jobs, their savings, their homes and their chance at the American Dream, the New Direction Congress will work in a bipartisan way to lift our economy and help America's middle class.nancy pelosi
I am for a government rigorously frugal & simple, applying all the possible savings of the public revenue to the discharge of the national debt; and not for a multiplication of officers & salaries merely to make partisans, & for increasing, by every device, the public debt, on the principle of it's being a public blessing.
"India's bane is the profesional 'povertywallas': the politicians who have incessantly mouthed slogans such as 'garibi hathao' … and the economists who write continually about 'abysmal poverty'. Both have generally espoused policies, such as defending public sector enterprises at any cost, discounting and even opposing liberal reforms, promoting white-elephant style projects that use capital-intensive techniques on unrealistic grounds such as that they would create profits and savings when in fact they have drained the economy through losses..."
Even if the whole earth and sea were turned to gold , they could hardly satisfy the avarice of a woman ... You can more easily scratch a diamond with your fingernail than you can by any human ingenuity get a woman to consent to giving any of her savings.
I have long argued that paying down the national debt is beneficial for the economy: it keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
The contented and economically comfortable have a very discriminating view of government. Nobody is ever indignant about bailing out failed banks and failed savings and loans associations... But when taxes must be paid for the lower middle class and poor, the government assumes an aspect of wickedness.john kenneth galbraith