Mises Daily
Author:
Friedrich A. Hayek
Online Publish Date:
This essay originally appeared in the Zeitschrift für Nationalökonomie, Bd. I, Heft III, 1929, under the title “Gibt es einen Widersinn des Sparens?” The first English translation appeared in Economica, May, 1931. Introduction The assertion that saving renders the purchasing power of the consumer insufficient to take up the volume of current