Thursday, 4 April 2019

Stephanie Kelton demolishes some of the more simple minded ideas about deficits and debts.

Stephanie Kelton demolishes some of the more popular and simple minded objections to deficits and rising national debts.




 


On the other hand I’m not entirely happy with her claim (about 30 minutes in) that we do not need to worry too much about where the money will come from to pay for a better social security system, more infrastructure spending etc. If taxes do not need to rise to pay for extra public spending, why do countries with high levels of public spending relative to GDP, also have high levels of tax relative to GDP?

(Hat tip to Lars Syll).


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