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 ...
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