Re: S=I, an old debate.

["Bruce R. McFarling" <ecbm@xxxxxxxxxxxxxxxxxxx>]

At 21:09 16/08/98 -0700, Chas wrote:

>Paul, I would define saving as the purchase of new interest-bearing financial
>assets,  and non interest-bearing assets.  This definition would extend to
>account for the purchase of new capital from income where I=S. Saving,
>however, need not flow from current income regardless of how one defines
>the latter concept, i.e., value of current output or receipt of money income.

	For the purchase of assets that were not financed out of income,
how was the purchase financed?


Virtually,

Bruce McFarling, Newcastle, NSW
ecbm@xxxxxxxxxxxxxxxxxxx