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.
“For years, I've had a hankering for the portrait of Benjamin Franklin by Joseph Duplessis. Franklin is credited with so many inventions: the postal system, lightning rods, the constitution. He was a rock star before there was such a thing.”
“I didn't decide to be a photographer; I just happened to fall into it.”