Oversaving, a Burden for Our Times

New York Times published an article incredibly stupid science section entitled "Oversaving, a burden for our time". The article stated that our present stage of accumulation (in anticipation of shortages), and saving money leads to a picture of remorse, as distinguished from the buyer's remorse, where frugal consumers saving for a rainy day (or, more likely, losing a job) or preparing for the future (such as building the nest egg for a large purchase, such as a house) is lacking in too much immediate pleasure and opportunities for entertainment.

The article also takes quite uncritically, that ...