
Mariana Mazzucato: The Entrepreneurial State: Debunking Private vs. Public Sector Myths
Long Now
The Problem With Government Investing in Recessions
If you have government investing through the multiplier effect that increases GDP so what you're actually doing is increasing the amount of total funds both for public and private right. That's the usual Keynesian defense of why you need government to invest in times like this in a recession. Government does much more than just crowding in it's actually investing in new areas in frontier areas which create a new space but we don't have a word for it.
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