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The Fallacy of Saving; A Study in Economics

The Fallacy of Saving; A Study in Economics


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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1892 edition. Excerpt: ... PART II.--THE PRACTICAL ISSUE. L Already, perhaps, the reader, in accepting the argument, has recoiled in despair from the vast vista of social reconstruction which it opens up as the only alternative to a long decline towards darkness. He may be moved to cry out with Mr. Lang, and with perhaps the better justification as having really tried to understand the case, that "the social problem is insoluble," and that after a few centuries we shall just "worry back to barbarism." There is a certain sombre fascination in this species of pessimism that especially captures the belletrist mind, even that mind which, in resentment of other austere philosophies, formulates for itself in the name of mythological science the doctrine of a divine "Father who is not far from anyone of us,"1 and is solaced under the pressure of the insoluble social problem by the spectacle of the "beautiful Church of England." But if the belletrist, who at least realises that there is a social problem, is thus impressed by it, we must confess that it will be hard to bring home to his public I the falsity of the current economic gospel of saving. All the forces of egoism and optimism are on its side. As a matter of fact--and this is the real crux x Mr. Lang: Myth, Ritual, and Religion, i. 340. 119 of the case, remaining after all the economic fallacies are exposed--the average middle-class man has at present no way open to him but saving to provide for his old age; that is, the minority must "save" in order to live one day on the labour of the majority. If the saver buys an annuity, bis money seeks investment all the same. How make the middle-class multitude ever realise that this proceeding of theirs is a saving only of abstract purchasing power: how make them see, even...


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Product Details
  • ISBN-13: 9781230211206
  • Publisher: Theclassics.Us
  • Publisher Imprint: Theclassics.Us
  • Height: 246 mm
  • No of Pages: 44
  • Spine Width: 2 mm
  • Width: 189 mm
  • ISBN-10: 1230211209
  • Publisher Date: 12 Sep 2013
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 95 gr


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