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Saving is the Accounting Record of Investment

In: Shaking the Invisible Hand

Author

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  • Basil John Moore

Abstract

Economists have long viewed saving and investment as independent behavioral relationships undertaken by households, firms, and governments. Business firms, the administrators of the economy’s capital stock, are responsible for most investment spending. Households, the ultimate owners of the economy’s private net worth, undertake most of the economy’s saving. Governments tax and spend. They save by running a budget surplus and not spending all their income. But saving and investment are identical ex post as a national income identity. The unresolved question concerns the mechanism that brings these two alledgedly independent volitional magnitudes into ex post equality?

Suggested Citation

  • Basil John Moore, 2006. "Saving is the Accounting Record of Investment," Palgrave Macmillan Books, in: Shaking the Invisible Hand, chapter 7, pages 156-173, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-51213-9_7
    DOI: 10.1057/9780230512139_7
    as

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