Saving, Economic Growth, and the Arrow of Causality
its potential contribution to growth. Indeed, it probably causes it to decline in the future. Business will not continue to invest, if it can't sell its products. If we understood this, our view of the futility of many measures to "promote saving" would become clear. Individuals may be persuaded to save more by some "tax incentive." But that might be more difficult to accomplish than some think. This means that individuals would