India's investment and consumption activity worsened in July, with economic growth showing little signs of recovery from a five-year low. But improvement in the deteriorating situation requires saving rather than consumption. Savings are a provision for an individual's financial security in times of emergency, and fortunately, gross financial savings of Indian households have been on the rise since 2017-18.
In the backdrop of the worsening of several economies across the world, did the thought of how the very economy came into existence cross your mind? Of how wealth was created? Or how the economy grew and neared crashing?
This video by EconClips-inspired by Peter D. Schiff's work 'How An Economy Grows And Why It Crashes?'-throws light on these fundamental questions. Check out the video for more.
Comentários