Let us examine the difference between human savings and the savings of a squirrel. Apparently both anticipate the future! The squirrel’s action is very strongly driven by instinct; however if environmental conditions change significantly the squirrel will modify the size of its cache. Likewise, human savings will be modified as a consequence of conditions. Human intelligence, which can span time conceptually and which can unravel the numerous and various complexities of the world, enables humans to save purposefully. Simply stated, savings is a productive and vital aspect of life.
Under the current system of economic intervention, the proponents of intervention come to the bizarre conclusion that savings is harmful. For example, Keynesian economics — a variant of which underlies the predominant economic systems practiced worldwide — demonizes people’s choice to save. Their forced incentives to diminish savings is like force-feeding the squirrels this year only to find that their essential cache for the future is completely gone, ultimately leading to disaster.