"What we are saying is that when there is a lack of spending in the economy, when there is already a lot of people with precarious employment or people who are underemployed, and when nobody in the medium term is forecasting any significant inflation, then under those circumstances the appropriate thing for the government to do is to stop talking about balancing its budget," he says.
By contrast, if you cut back on spending to ensure a budget surplus, all you will really do is restrict the opportunities for further economic growth."The question then is whether you deliberately run a fiscal deficit in order to support the economy and to support employment," Dr Hail says. That level will differ from country to country, he says, depending on an individual nation's potential for growth.
Mugabe Monetary Theory.
Capitalism sucks. Pass it on.
How very Socialist. How very ABC.
If you look at it, we do not have a free capital market economy at all. Privatization has been used to fund increasing government spending while cutting taxes. States got huge increase in revenue from gst and many states wasted the new income
Nice
If Sanders thinks it is a good idea then it isn't. Voodoo Economics indeed. The system is not broken and the inequities claimed are illusory, more people are better off today than at any other time in history.
The free market system is still the best, the trouble now is Leftism has infiltrated the public service, education system, Government & the rest. The Left wreck most things they touch 😪.
It's not a free market when the reserve bank sets interest rates and decides the quantity of currency. Minimum wage is not a free market, superannuation is not a free market. Public schools and hospitals are not the free market. Taxes in a free market are zero. Js :D
The authors of MMT dont seem to realise that spending now instead of saving for the future just pushes the problem into the future. It becomes a problem for our younger generations to fix. This seems like a shitty excuse to be selfish.
free market capitalism where d rich r getting richer the labor r exploited n workers in d west have less purchasing power They also make d few very rich like Alibaba &Huawei In China they have 500 new billionaires