Spending on vital programs can stimulate economic growth from "summary" of The Deficit Myth by Stephanie Kelton
It is a common misconception that government spending should be constrained by the amount of revenue it collects. The truth is that a government that issues its own currency can never "run out of money" in the same way that a household or business can. In fact, the federal government has the power to spend as much as it deems necessary to achieve its policy objectives, regardless of its revenue. When the government spends on vital programs such as healthcare, education, infrastructure, and green energy initiatives, it not only improves the lives of its citizens but also stimulates economic growth. This is because government spending injects money into the economy, creating jobs and increasing demand for goods and services. As a result, businesses see increased profits, leading to further inve...
Similar Posts
Exchange rates impact international trade and investment
Exchange rates play a crucial role in determining the competitiveness of a country's goods and services in the global market. W...
Financial systems play a critical role in facilitating investment
Financial systems are of paramount importance in the process of economic development. They play a crucial role in facilitating ...
Karl Marx's critiques of capitalism laid the groundwork for modern socialist thought
Karl Marx, the revolutionary German thinker, is best known for his scathing critiques of capitalism. In his view, capitalism wa...
International trade influences business competitiveness
The global marketplace is a dynamic environment where businesses must navigate various factors to maintain their competitivenes...
Gold and other precious metals can provide a hedge against inflation
Gold and other precious metals have long been recognized as a safe haven for investors seeking protection from the ravages of i...
The value of Bitcoin comes from its ability to function as a medium of exchange, unit of account, and store of value
Bitcoin's value lies in its multifaceted role as a medium of exchange, unit of account, and store of value. As a medium of exch...
Economic growth stifled by corporate greed
The idea that economic growth is being held back by the insatiable greed of corporate entities is a central theme in 'The Great...
Empirical evidence supports the importance of technological change
The empirical evidence unequivocally shows that technological change plays a crucial role in determining long-term economic gro...
Measures for promoting inclusive growth
Measures for promoting inclusive growth refer to policies and strategies aimed at ensuring that the benefits of economic growth...
The idea of meritocracy is flawed
The concept of meritocracy, the idea that individuals rise to the top based on their talent and hard work, is prevalent in capi...
