The government has the power to invest in infrastructure and education from "summary" of The Deficit Myth by Stephanie Kelton
One of the key arguments put forth is that the government does not need to "find the money" in order to invest in infrastructure and education. Instead, the government has the power to create the money it needs to finance these investments. This is a fundamental shift in the way we think about government spending. By understanding that the government is not constrained by revenue in the same way that households or businesses are, we can see that there is no financial barrier to investing in the things that matter most. Investing in infrastructure and education has the potential to generate significant economic returns in the long run. When the government invests in infrastructure, such as roads, bridges, and public transportation, it creates jobs and stimulates economic activity. This, in turn, can lead to increased productivity and higher living standards for the population as a whole. Similarly, investing in education can help to create a more skilled and productive workforce, which can drive economic growth and innovation. By recognizing that the government has the power to invest in infrastructure and education without needing to "balance the budget," we can begin to shift our focus towards the outcomes of government spending rather than the numbers on a balance sheet. This means that we can prioritize investments that will have the greatest impact on society as a whole, rather than being constrained by arbitrary budget limits. Furthermore, by investing in infrastructure and education, the government can help to address some of the most pressing challenges facing society today. For example, investing in green infrastructure can help to combat climate change and create a more sustainable future. Similarly, investing in education can help to reduce inequality and create more opportunities for people from all backgrounds to succeed.- It is essential to recognize that the government has the power to invest in infrastructure and education without needing to "find the money" or "balance the budget." By understanding this fundamental concept, we can begin to prioritize investments that will have the greatest impact on society and create a more prosperous and sustainable future for all.
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