Question

is saving a virtue or a vice??

Answer 1

Answer:

According to Keynes,however, saving is a private virtue but a public vice. saving is a private virtue since very individual is induced to save owing to the instinctive fear of future uncertainty and insecurity and, therefore, as a precaution, he saves to safeguard against future contingencies.

Answer 2

Answer:

Keynes, however, contends that saving is not a public virtue but a private one. Saving is a personal virtue because it is a response to everyone's innate fear of future insecurity and uncertainty. As a result, everyone saves as a precaution to protect against unforeseen events.

Explanation:

• Saving is a good thing in the big picture. But on a larger scale, it might be bad. A person will amass greater riches if he saves more. His capacity to earn more is improved.

• At the macro level, however, the demand for products and services can decrease if everyone starts conserving more money. It might cause the motor to diminish, which would put the economy into a depressed position.

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