How to reset a depressed economy

With a looming depression triggered – not caused – by the Covid-19 coronavirus, we are all asking hard questions about how to reset the economy. If economic growth only came from mere savings then Portugal, the Netherlands and Spain would had been the first economically developed countries. These countries, compared with England, had accumulated gold and other resources from colonies as far back as the 1500s. England has shown that economic growth is driven by productive investment of savings within a particular set of property relations.

Just like all investment in our current economy, the deployment of savings is based on anticipated returns.