NAME THAT ECONOMIST!

A random quote game from Econlib


Quiz yourself! Who wrote this quote?

According to Keynes, "'Forced saving' has no meaning until we have specified some standard rate of saving." The reasonable thing to do would be to select "the rate of saving which corresponds to an established state of full employment....'Forced saving is the excess of actual saving over what would be saved if there were full employment in a position of long-period equilibrium'." Keynes noted that to Hayek this definition was, in fact, the original meaning of the term.






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