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SAVING OR CONSUMING: WHICH IS THE WAY TO EXIT A CRISIS? A REASSESSMENT OF THE "SAVING PARADOX"

Radu Cristian Musetescu
Authors registered in the RePEc Author Service: Radu Cristian Musetescu ()

Revista Economica, 2012, vol. Supplement, issue 1, 535-540

Abstract: The identification of the factors that generate economic growth has always been central in the discipline of economics. In this respect, a critical debate has been borne around the dilemma: should public policy encourage saving or consumption? The fundamental economic policies in the modern era are designed around the primary objective of encouraging consumption. So such a dilemma is even more relevant in the context of an economic crisis. Using arguments advanced by the Austrian School of Economics, we demonstrate that public policy should at least avoid the penalization of saving.

Date: 2012
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