A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output.
“Nothing splendid has ever been achieved except by those who dared believe that something inside them was superior to circumstance.”
“More than anything else, we need in this society the opportunity for people to tell us what they think without being told that they're either dumb, or stupid, or uninformed.”