if we are heading into a recession, then a public sector spending spree is exactly what we do need.
Households won't spend, private sector won't invest as households are not spending, so if the public sector also stops spending then you go into a much longer and deeper recession.
Money itself for a government with a central bank is just a unit of account. There can't not be enough of it. It's just a way to measure resource distribution.
Wealth on the other hand. There's plenty of that in the UK, but it's increasingly in the hands of a few.
40 years of financilising public services and nearly every aspect of our lives means that household and public spending eventually ends up being concentrated even more in the hands of a few.
That's the actual issue with public spending into such an economy, that without an effective tax system (which we don't have), then it makes inequality worse.
Both Tory and Labour are pushing a false narrative, because ultimately they represent those who are doing pretty well out of this deal.
Households won't spend, private sector won't invest as households are not spending, so if the public sector also stops spending then you go into a much longer and deeper recession.
Money itself for a government with a central bank is just a unit of account. There can't not be enough of it. It's just a way to measure resource distribution.
Wealth on the other hand. There's plenty of that in the UK, but it's increasingly in the hands of a few.
40 years of financilising public services and nearly every aspect of our lives means that household and public spending eventually ends up being concentrated even more in the hands of a few. That's the actual issue with public spending into such an economy, that without an effective tax system (which we don't have), then it makes inequality worse.
Both Tory and Labour are pushing a false narrative, because ultimately they represent those who are doing pretty well out of this deal.