Where Have All the Savings Gone?
By Robert L. Formaini, Richard B. McKenzie
This article appeared in the Winter 2000/01 issue of The Independent Review.
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.
Robert L. Formaini is a Research Fellow at the Independent Institute and former Senior Economist at the Federal Reserve Bank of Dallas.
Richard B. McKenzie is a Research Fellow at the Independent Institute and the Walter B. Gerken Professor of Enterprise and Society in the Paul Merage School of Business at the University of California, Irvine.
|Other Independent Review articles by Robert L. Formaini|
|Fall 2007||Celebrating Irving Fisher: The Legacy of a Great Economist|
|Winter 1998/99||Rational Risk Policy|
|Other Independent Review articles by Richard B. McKenzie|
|Fall 1998||Is Microsoft a Monopolist?|