what leads to wealth production, “not spending” reduces wealth production and does nothing to increase money saved. That money saved will exist whether used for spending or not. So on either front, if the goal is to increase savings, and increase the net production of wealth, “not spending” is the wrong advice. “Not spending” will not increase the savings that is the preservation of investment, and it will likely not increase the net production of wealth, in fact it is more likely to decrease both. In the macro economy, “not spending” is more likely to have negative effect on the production of wealth and standard of living, than a positive one.
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Simply look at Steve Jobs, the guy who ran Apple so well. He was a Oklahoma State Cowboys NCAA Hawaiian Shirt Dry Season Aloha Shirt believer in “natural” medicine, in fact he wouldn’t bathe since he felt this somehow or other weakened him but his fellow workers had lots of problems with this. He developed Pancreatic Cancer nothing may have done him any good but from the little that I’ve found on his case he may have had a rare case, like Ruth Bader Ginsberg, where prompt surgery may have saved him. He wanted to try some “natural treatments” first, he did, and you know how that turned out. Just because you know a lot about a lot of things don not assume that you know everything about everything. He was in many ways a brilliant man in most areas but not in the treatment of pancreatic cancer. The worst part is he got a liver transplant later on when he decided to try regular medicine, something that might have saved someone who really needed it. So sad.
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