A Savings-Free Economy

["Mason A. Clark" <masonc@xxxxxxxxxxxxx>]

For the enlightenment of the Blumenstock potato-eaters,
I have placed a proposed Act of Congress for a new economy at:

   http://www.netcom.com/~masonc/savings.html

Being rather long, I chose not to post it here.
For your convenience, here is the essence:

Purpose. To end the practice of personal, business, and financial-
institution hoarding, commonly called "saving" and thereby to prevent
economic cycles and especially recessions and depressions, which
are caused by loss of consumer confidence and resultant increases in
savings.

"The best guess I can make is that whenever you save five shillings,
you put a man out of work for a day." JMK 1931

The New Economy will be characterized by there being
zero savings (in money or equivalent) whatsoever.  The
resultant increase in investment will cause a spectacularly
large growth rate.

(If anyone needs a copy, e-mail your request.)

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