Saving in a free society

What is meant by saving-for indi viduals, companies, the community? Is it a 'good thing'-to be encouraged by favours from Chancellors of the Exchequer? Or would the volume of saving best be left to individual decisions in a free market? When governments intervene 'to promote saving', do they really know what they are doing? Or do they risk damaging the free society for an uncertain result?

Mr. Powell sets out the up-to-date facts and figures necessary for an informed judg ment on a subject that lies near the centre of many political and economic contro versies. He describes the main channels of personal saving, assesses their relative importance, and contributes much that is new and stimulating to our understanding of the role of national savings, building societies, life assurance, hire purchase, gambling, and other topics.

Mr. Powell writes with the authority of a former Financial Secretary to the Treasury and present chairman of the Conservative Parliamentary Finance Com mittee. He studies British policy and ex perience in the recent past in order to draw lessons and warnings for the present and future. His challenging conclusions are certain to attract wide attention.