Treacy: Now we know the reason for the low national savings rate. The
poor have not been doing their part because they have been
offered inappropriate incentives. Why not cite the title and
author of this piece of sparkling prose.
[EMAIL PROTECTED] COPYRIGHTED
On Thu, 9 Mar 1995, Doug Henwood wrote:
> This is an excerpt from a paper abstract presented on another list. The
> names of the authors have been omitted for reasons of discretion:
>
> <quote>
> Assuming common preference parameters across
> lifetime-income groups, we are able to replicate the
> empirical pattern that low-income households are more likely
> than high-income households to hold virtually no wealth.
> Low wealth accumulation can be explained as a utility-
> maximizing response to asset-based means-tested welfare
> programs.
> <endquote>
>
> It takes lots of advanced training to be this stupid.
>
> Doug
>
> --
>
> Doug Henwood
> [[EMAIL PROTECTED]]
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