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Life Cycle Saving: A General Paradigm or a Caricature of the Petite-Bourgeoisie

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  • George M. Von Furstenberg

Abstract

The paper interprets the life cycle hypothesis as an outgrowth of classical liberalism on account of the assumptions of egoism, intellectualism, and atomism which they share. A broader approach is modeled by letting differences in subjective survival probabilities reflect differences in altruism for heirs or posterity in general. The choice individuals make of family status may be indicative of differences in dynastic disposition even though such inclinations and their enforceability appear to have declined.

Suggested Citation

  • George M. Von Furstenberg, 1988. "Life Cycle Saving: A General Paradigm or a Caricature of the Petite-Bourgeoisie," Annals of Economics and Statistics, GENES, issue 9, pages 183-198.
  • Handle: RePEc:adr:anecst:y:1988:i:9:p:183-198
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    File URL: http://www.jstor.org/stable/20075687
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