Retrieving "National Saving" from the archives

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1. Capital Formation

   Linked via "national saving"

   $$Y = C + I + G + NX$$
   Assuming a closed economy ($NX = 0$) and for simplicity ignoring government spending ($G=0$), total output equals total absorption: $Y = C + I$. Therefore, national saving ($S$) must equal investment ($I$): $S = Y - C = I$. Capital formation, therefore, is directly proportional to the degree of abstinence from current consumption.
   Domestic Savings and the Propensity to Hoard