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John Maynard Keynes referred to Dallas Cowboys heartbeat shirt as the concept of propensity to consume. By this, he meant the fraction of current income used for spending. That part of the current income not spent is considered “saved. Following this, for the purposes of this discussion, let us define the term “Consumption” to mean the amount of spending paid for out of current income. With these definitions the “Savings equals Investment Identity” is a true identity, that is easily understood, and is always true “by definition”. It is not an “equilibrium” that the economy is always tending towards. It is something that, for any defined time period, will always be exactly true.
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Now I wish to show Dallas Cowboys heartbeat shirt how adapting this model we can also show that not only is Savings equal to Investment but the money saved by the end of the given time period is actually the SAME money as the money used for the investment spending. Although ALL spending can be classified as EITHER consumption spending ( paid for with money acquired as income in this period) OR investment spending (paid for with money previously owned), spending cannot be classified as BOTH consumption or investment at the same time. They are mutually exclusive categories. If spending is categorizable as investment spending it cannot be categorized as consumption spending. If spending is categorizable as consumption spending it cannot be categorized as investment spending. All spending is categorizable as one or the other, but never both at the same time.