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The life-cycle theory assumes that household members choose their current expenditures optimally, taking account of their spending needs and future income over the remainder of their lifetimes.
Changes in both are vital if China's new "human-centred" urbanisation is to succeed and officials' rapacious instinct to grab land is to be tamed.Local governments' lack of money to cover their spending needs is a problem of the Communist Party's own making.
But the hope is that in the long term, Qapital will provide enough value to users that they'll decide to make it their go-to account for all their spending needs.
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And those who also made that popular resolution to watch their spending need not fear -- you'll pay nothing to participate.
Banks, McMahon says, are better able to support high dividends since their capital spending needs tend to be low.
The ban on their spending is needed to prevent the political process from being overwhelmed and corrupted.
Since the debt bubble burst, most Americans have had to reduce their spending; they need to repay their debts, can't borrow as before, and must save for retirement.
Perpetrating this lie was particularly cruel since it was applied anew just as the boomers were due to retire, with their known impact on government spending needs.
Government spending needs to be reduced.
This spending needs to be committed.
In recessions tax revenues fall and spending needs rise.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com