Since savings ik s the

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sczech's picture
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  Since savings ik s the

Since savings ik s the excess of production over consumption, the failure to save is the same thing as the failure to produce. That is indeed the real problem. We work a lot, but too often our work does not lead to any production. It all begins in school. All students attend classes, but more often than not, no homework is being done. In other words, students work (=attend classes), but they produce little (homework). Teachers bahave similarly. In order not to have to look seriously at the work done by students, teachers simply assign inflated grades to the work done by students. Students feel great because they firmly believe that they deserve only the best grades. Teachers feel also great because they really do not wish to waste their time on students.  Everybody feels great despite a declining productivity of the educational system. Things are not really that much different in the economy at large.  

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