The important Keynesian insight is that a high propensity to save will not generate high national saving unless it goes into investment, into accumulation of real capital. The "paradox of thrift" makes this point in an extreme way. In certain circumstances, when there is no demand for investment around, the economy can be no better off, or even worse off, if a thrifty public cuts consumption.
James TobinRelated topics
certain consumption high national off paradox point propensity public real save way worse circumstances Keynesian cutsRelated quotes
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Orson Welles
A state that denies its citizens their basic rights becomes a danger to its neighbors as well internal arbitrary rule will be reflected in arbitrary external relations. The suppression of public opinion, the abolition of public competition for power and its public exercise opens the way for the state power to arm itself in any way it sees fit. A state that does not hesitate to lie to its own people will not hesitate to lie to other states.
Václav Havel
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Colum McCann
If we listened to our intellect we'd never have a love affair. We'd never have a friendship. We'd never go in business because we'd be cynical: «It's gonna go wrong.» Or «She's going to hurt me.» Or, «I've had a couple of bad love affairs, so therefore ...» Well, that's nonsense. You're going to miss life. You've got to jump off the cliff all the time and build your wings on the way down.
Ray Bradbury
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