Any society that wants to achieve durable, long-term success must incentivize saving.
Savings represent both the ability of a society to be productive and generate excess value, and confidence in a better future.
Smart societies thus seek to reward those who save, because those savings are the investment that drives a society forward.
By contrast, foolish and broken societies punish those who save.
They reward irresponsibility and incentivize debt – often by making it nearly impossible for many to hold onto their standard of living without it. They devalue the national currency, destroy confidence in the future, and push a kind of thinking that is increasingly short-term and destructive in the long-run. They bail-out those who fail at the expense of those who succeed, and concentrate economic power in the hands of the state and those affiliated with it.
What type of society do we have today?
