We should prioritize full employment over balancing the budget from "summary" of The Deficit Myth by Stephanie Kelton
The idea that we must first balance the government's budget before we can focus on achieving full employment is a common misconception. In reality, these two goals are not mutually exclusive. In fact, prioritizing full employment can actually help to improve the government's fiscal position in the long run. When more people are employed, they contribute to economic growth through increased consumer spending and tax revenues. This, in turn, can reduce the need for government spending on social welfare programs and other forms of economic stimulus. By prioritizing full employment, we can create a virtuous cycle of growth that benefits both individuals and the government. Furthermore, maintaining high levels of unemployment is not only ...
Similar Posts
The Federal Reserve manages the US money supply
The Federal Reserve, often simply referred to as the Fed, plays a crucial role in the United States economy by overseeing and i...
We need to shift our mindset from scarcity to abundance
The prevailing view is one of scarcity - scarcity of resources, of money, of opportunities. We are constantly told that there i...
Embracing technology while preserving human dignity is a delicate balance
In a world where technology is advancing at an unprecedented pace, the question of how to integrate these new innovations while...
Public education can stifle innovation and creativity
Public education, as it exists in many countries today, is often characterized by rigid structures and standardized curricula. ...
John Stuart Mill advocated for economic policies that would promote the greatest good for the greatest number
John Stuart Mill was a firm believer in the importance of promoting the well-being of the majority of society. He believed that...