Marocchi served in the U.S. Navy for decades in a career that spanned World War II and the Korean and Vietnam Wars. A recipient of the Purple Heart and Legion of Merit, the Admiral was one of the few Navy officers to complete Army Airborne training.
As investment is highly important for an individual or household, investments are also important for the broader economy.
There is interdependence between the household sector and other sectors of the economy, such as the corporate sector. For example, in the act of saving, households are not buying the goods and services that firms sell. However, by saving, households are placing money in financial institutions and this provides a potential source of funds for firms to expand and to invest themselves.
Governments also have an interest in household savings. One reason for this is that governments often spend more than the