[0}: https://press.uchicago.edu/ucp/books/book/chicago/C/bo181707...
But what Keynes realized is that the bottleneck isn't actually on the saving side, people actually save more than enough to grow the economy very quickly but they don't deploy those savings and hence they don't result in the expected growth. So insisting on austerity just adds a bigger pile of savings onto an already over supplied capital market while at the same time decimating consumer demand for the capital seeking investment opportunities. People don't invest because the economic outlook is bad for the next year or the year after. Faced with uncertainty they would rather just keep liquid money in their bank accounts and wait for the economy to recover but how is the economy supposed to recover if everyone is pessimistic about the future?
Not really surprising considering it is owned by a few European old-money families, who stand to lose tremendously from an Asia-centric multipolar world order.
https://www.bloomberg.com/opinion/articles/2019-10-10/inequa...