Related to the Economics in Practice on p.472: The paradox of thrift is that all people deciding to save more could lead to them saving less.

Question

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The paradox of thrift occurs when everyone in an economy tries to save more, resulting in a decrease in consumption and therefore a decrease in economic growth. This can lead to a decrease in income and savings, making it likely that people actually end up saving less than they initially intended.

Related to the Economics in Practice on P