PARADOX OF THRIFT
\pˈaɹədˌɒks ɒv θɹˈɪft], \pˈaɹədˌɒks ɒv θɹˈɪft], \p_ˈa_ɹ_ə_d_ˌɒ_k_s ɒ_v θ_ɹ_ˈɪ_f_t]\
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An economic belief which states that if a person saves a significant portion of their income, they are going to get poorer, rather than becoming richer. The reason quoted is because the circular flow of income would reduce and the same people would end up losing their jobs.
By Henry Campbell Black
Nearby Words
- paradisical
- parador
- parados
- paradoses
- paradox
- paradox of thrift
- paradox of value
- paradoxal
- paradoxer
- paradoxes
- paradoxic contraction