We regularly hear how important consumer spending is for the economy. The story goes like this: the more consumers spend, the more money circulates in the economy, which stimulates healthy job growth and profits. If people could be encouraged to go out and spend a little more of their paycheck, we'd all be better off. Keynes went as far as to say that individuals saving their money may actually be hurting the economy, as saving reduces "aggregate demand" and therefore company revenue. Sounds troubling, doesn't it? Fear not. You aren't actually hurting anyone by filling up your piggy bank. In fact, savings help the economy, as they make lending to productive entrepreneurs possible. The consumption that we enjoy is only made possible by prior production. And that production is only made possible by savings. For more resources about the economics of saving versus consuming, visit http://www.fee.org/the_freeman/detail/savings-fuel-for-an-economic-engine Scripted, animated, and produced by Steve Patterson. Very special thanks to Julia Patterson.

Overstock's CEO Patrick Byrne talks about running one of the largest online retail websites in the world and how he got to be where he is today, as well as the future of Overstock.com and the possibility of leading a movement toward wider-spread adoption of Bitcoin.

Bruce Rottman vs. Dr. Sean Mulholland Resolved: It would be beneficial for the United States to end the Federal Reserve. Tuesday, July 29 at 3:35pm ET | Calvin College | Grand Rapids