Clearly, as Modigliani’s life-cycle saving-spending hypothesis illustrates, this is a purposeful simplification of a complex life span dynamic; many people continue to (work and) accumulate in their older years just as, of course, younger and middle-aged persons spend during the accumulation years of their wealth span.
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Clearly, as Modigliani’s life-cycle saving-spending hypothesis illustrates, this is a purposeful simplification of a complex life span dynamic; many people continue to (work and) accumulate in their older years just as, of course, younger and middle-aged persons spend during the accumulation years of their wealth span.
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