ABSTRACT
Saving is a noble virtue, when it is an engine of economic growth. When it is a cause of unemployment, it turns into a deadly sin. The solution to the problem of communication between millions of different producers and consumers who normally never meet is a free market. It is through offers to buy and sell in the market-place that individuals are able to reveal their continually changing preferences. Money as a medium of exchange is indispensable for facilitating trade. Without it, commerce would be reduced to barter. The only effective way in which consumers can signal their preferences is by spending money. The market provides one of the most valuable economic freedoms — the freedom to choose. In an exchange economy, the market is the only effective channel of economic communication. Money is a perfect economic bypass for avoiding the market-place.
