Affluence tomorrow requires sacrifice today
Explain: “Affluence tomorrow requires sacrifice today.”
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This quote refers to the fact that economic growth and a rising standard of living in the future require investment today. Society can choose to consume all of its income today, or it can set aside some of it for investment purposes. roductive resources that go for investment goods today, e.g., new factories, machines, equipment, are obviously not being used for producing consumer goods. As a result, expenditure is being forgoes today so that investment goods can be produced with some of today’s resources.
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