|Schumpeter (Photo credit: babak_bagheri)|
The paper compares Western nations and the nations of East Asia in relation to the theme of savings and economic growth. One thing I would certainly add to the paper is the reality that today the Japanese population is failing to reproduce. This observation relates to the paper's attempt to relate the activity of savings to a long-term horizon based on providing for one's children. Surprisingly, after 14 years, I still find the paper's observations on savings quite relevant today, especially in today's era of private and public debt crises.