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Book Synopsis
In The Limits of Choice, Sahra Wagenknecht examines household saving decisions and basic needs in Germany and the United States, based on official data from both countries from the 1950s to present day. Arguing against the hypothesis that assumes consumers optimize their consumption intertemporally based exclusively on their permanent or lifetime income, Wagenknecht proposes a rule of thumb according to which consumers will save if their current income exceeds basic expenditure, while they will demand credit when income can no longer meet basic needs.

The Limits of Choice: Saving Decisions and Basic

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    A Paperback / softback by Sahra Wagenknecht

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      View other formats and editions of The Limits of Choice: Saving Decisions and Basic by Sahra Wagenknecht

      Publisher: Campus Verlag
      Publication Date: 03/12/2013
      ISBN13: 9783593399164, 978-3593399164
      ISBN10: 3593399164
      Also in:
      Macroeconomics Political economy

      Description

      Book Synopsis
      In The Limits of Choice, Sahra Wagenknecht examines household saving decisions and basic needs in Germany and the United States, based on official data from both countries from the 1950s to present day. Arguing against the hypothesis that assumes consumers optimize their consumption intertemporally based exclusively on their permanent or lifetime income, Wagenknecht proposes a rule of thumb according to which consumers will save if their current income exceeds basic expenditure, while they will demand credit when income can no longer meet basic needs.

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