Sunday, September 15, 2013

Is China proof that low savings rates are because of government reliance?

That's what Don Boudreaux thinks (via ASI):

If Haltom’s claim is correct, the high household savings in China today is evidence that government provision of welfare substitutes to some extent not only for private provision generally, but also for provision at the level of the household. People are neither as personally irresponsible nor as incapable of planning for and providing individually for their own needs as many today – “Progressives” and some conservatives alike – presume them to be.

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