Crusoe demonstrates that savings is not mere renunciation, nor is it simply deprivation. Rather, it is highly strategic, yielding or “losing” now to realize an advantage in the future that—the saver hopes—more than justifies the setback and waiting to be paid for the fruits of one’s labor and investment (if, indeed, there is ever a payoff; entrepreneurial ventures naturally do not come with any guarantees of feasibility or profitability). Here again we find the exchange across time: loss now for greater gain later. Thus, as Böhm-Bawerk recognized, savings is not negative, but rather deferred
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