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2.14 A writer for the Wall Street Journalwrote a whimsical " Letter to Stingy American":

Dear American Consumer:

This is Wall Street Journal. .....The sun shined in April and

You didn't spend much money. ....You've been saving more

Too. ....This saving is not like you. ....Do you know the American

economy is counting on you?

Economist Steven Landsburg praised Ebenezer Scrooge for choosing to save rather

than spend his money, arguing that saving--not consumption --fuels economic growth. The Wall Street Journal letter pretends to chide the American consumer for saving rather than spending income, arguing that spending -not saving -fuels economic growth. Which argument is correct?

Source, Jon Hilsenrath, "Grand Central: A Letter Stingy American Consumers. Journal, June 2, 2015.