Economists alarmed by the twenty-year decline in Americans personal saving rates need to explain the rise of U.S. living standards and stock market indexes during this period. When alternative measures of savings are considered, low personal saving rates hardly seem perplexing or troubling.
|Other Independent Review articles by Robert L. Formaini|
|Fall 2007||Celebrating Irving Fisher: The Legacy of a Great Economist|
|Winter 1999||Rational Risk Policy|