Re: Savings Rates

[Fred Foldvary]

>> Hence the
>> rise in the value of a painting is zero-sum for society. <<
 
> can't 
> the same can't be said of the appreciation in any tangible asset, such as 
> real estate?
> David

Yes.

The point is to differentiate a change in net worth due to appreciation from
a change of net worth due to saving income.

Fred Foldvary 


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