Not hoarding, it's called saving. And people would still spend money because everyone has their own time preference and we're all going to die someday anyways.
On the positive side, economy with a large number of savers would be less vulnerable to crisis. Governments won't be afraid to let zombie-companies die, because they know that people are not going to starve when this happens.
On the positive side, economy with a large number of savers would be less vulnerable to crisis. Governments won't be afraid to let zombie-companies die, because they know that people are not going to starve when this happens.