|Mause I 279
Generational Justice/Growth/Weizsäcker: recent analyses suggest that changes in the demographic structure in many developed economies lead to an overaccumulation of capital. (1) See also Generational Justice/Diamond, Dynamic Inefficiency: See Terminology/Economic Theories.
Thesis: A secular oversupply of savings beyond existing investment opportunities leads to the fact that the balanced interest rate would actually be negative. However, this is not possible, as the individuals would then simply withhold cash from them.
Solution: The state could step into this breach as a debtor and thus enable individuals to shift individual budgetary leeway into the future as planned.
Vs: Example: In an economy in which land is available as a store of value, prices for land would have to explode to infinity if such a savings surplus actually existed. (2)
1. Carl Christian von Weizsäcker. 2014. Public debt and price stability. German Economic Review 15 (1): 42– 61.
2. Stefan Homburg. 2014. Overaccumulation, public debt, and the importance of land. German Economic Review 15 (4): 411– 435._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
C. F. von Weizsäcker
Die Geschichte der Natur. Zwölf Vorlesungen 1948
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018