Education Quote by John Maynard Keynes
“Whenever you save five shillings you put a man out of work for a day.”
About This Quote
Source Book: The General Theory of Employment, Interest and Money, 1936
Saving small amounts can indirectly cause job loss by reducing demand.
In simple terms: Saving can hurt jobs.
Key Takeaway
Balance saving with spending to support the economy.
Themes
economics
employment
consumption
Mood
analytical
concerned
Type
economic
critical
When to use this quote
- household budgeting
- government fiscal policy
- business investment
- consumer confidence
Key Concepts
aggregate demand
labor market
saving behavior
Questions to Reflect On
- What are the broader effects of widespread frugality?
- How can economies offset reduced consumption?
A Different Perspective
Saving also builds personal security and future investment.
