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| Author: | Kelso, L. O. Kelso, P. H. |
| Title: | The great savings snafu |
| Journal: | Business and Society Review
1988 : WINTER, VOL. 64, p.42-47 |
| Index terms: | CAPITAL EARNINGS SAVINGS |
| Language: | eng |
| Abstract: | An examination of several aspects of the savings idea shows that except where it refers to a contingency reserve fund for the individual saver, the concept of saving as a basic idea in a market economy is a snafu. One of the disconcerting historical facts of life is that the productive power of labor, whatever its degree of refinements and sophistication, is extremely limited. At no points was the growth of new capital formation institutionally linked to a broadening of the capital ownership base by consumers in general. The power to produce goods and services had so far changed from labor-intensive to capital-intensive process that the income of workers was inadequate to provide sufficient demand. |
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