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Re: RE: RE: Re: workers' saving & Marxian political eco nomy

Jim, I don't think that the life cycle theory works for the rich.  They
save and then they continue to save in old age.


On Wed, Mar 06, 2002 at 06:50:35PM -0800, Devine, James wrote:
>
> yeah, I think that the forward-looking theories of consumption (the
> permanent income hypothesis, the life cycle hypothesis) fit most for those
> who have a sufficient financial cushion. It is these people who ignore
> current income (transitory income) the most in making consumption/saving
> decisions. Capitalists are the purest case here.
>

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@xxxxxxxxxxxxxxxxx
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