Why Scotland’s ‘budget deficit’ matters little even if it still exists after we get actual non-estimated data

The Tusker [Talking-up Scotland]

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‘The leading thinker and most visible public advocate of modern monetary theory – the freshest and most important idea about economics in decades – delivers a radically different, bold, new understanding for how to build a just and prosperous society.


Any ambitious proposal – ranging from fixing crumbling infrastructure to Medicare for all or preventing the coming climate apocalypse – inevitably sparks questions: how can we afford it? How can we pay for it? Stephanie Kelton points out how misguided those questions really are by using the bold ideas of modern monetary theory (MMT), a fundamentally different approach to using our resources to maximize our potential as a society.


We’ve been thinking about government spending in the wrong ways, Kelton argues, on both sides of the political aisle. Everything that both liberal/progressives and conservatives believe about deficits and the role of money and government spending in the economy is wrong…

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