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Savings (2) Perfect Altruism
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Savings (2) Perfect Altruism
If, on the other hand, today's S is set too high, the consumption pattern will not break down; but on the other hand, the consumption pattern could have been maintained even if a higher initial level of consumption had been chosen. If a very high level of S is chosen today, then there will be a large addition to the amount of capital and Z are all constant, there exists a value of today's S which will cause S to move to its steady- state value of at which it can continue indefinitely. Any value of today's S greater than this would be unnecessarily high since
Edition 1st Edition
First Published 1968
Imprint Routledge
Pages 14
eBook ISBN 9780203106594